News

OBSI is pleased to announce the latest round of firm portal enhancements, now available to participating firms. Our updates aim to further improve the portal experience by focusing on features firms value most, including document upload improvements, additional information in the cases list, and new case statistics.

Ms. X worked at a large technology company that had a close business relationship with Company A. As an employee benefit, she received shares of Company A and transferred them to a self-directed online account at a DIY investing firm.

Mr. Y was a novice investor with financial assets of nearly $400,000, a net worth of $1.7 million and an annual income of $124,000 from his healthcare sector job. 

Read OBSI's latest newsletter featuring our Q1 2025 case statistics, OBSI's submission to CIRO, the release of our 2024 Annual Report and learn about our new board members.

Click here to read OBSI e-news: Q1/2025.

Toronto, March 14, 2025 – The Ombudsman for Banking Services and Investments (OBSI) released its 2024 Annual Report.

Toronto, March 05, 2025 - The Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) is pleased to announce three appointments to the board.

Credit card issuers (including banks, credit unions or other financial companies) often try to attract new customers to their cards by offering low interest rates on amounts transferred from other cards. The special promotional rates are typically offered for a limited time. After the promotional period, interest rates generally increase significantly.

Read OBSI's latest newsletter featuring our Q4 case statistics, a new approach, a public consultation, and more.

Click here to read OBSI e-news: Q4/2024.

Ms. J held a credit card with her bank for several years when she learned of a promotional offer that allowed customers to transfer balances from other credit cards to her bank’s credit card at a 0% interest rate for 12 months. She called the bank to ask about this offer and the bank confirmed that it was still available, with a 3% balance transfer fee. 

Ms. W was a smart credit card user, always making sure to pay off her balance in full each month. She used her cashback card for everything from travel expenses to groceries, and for cash advances. Her bank informed her of a promotional offer to transfer balances from other credit cards to her cashback card at a 0% interest rate for 12 months. This offer represented a significant savings from the usual interest rates of 20.99% on outstanding balances and 21.99% on cash advances.