TORONTO — Canada’s two banking complaints agencies say there were a record number of inquiries and cases opened last year.
The Ombudsman for Banking Services and Investments says banking inquiries were up 56 per cent and the number of banking cases it opened was up 33 per cent, while the ADR Chambers Banking Ombuds Office reports that the number of complaints it received was up 45 per cent while it opened 21 per cent more cases.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.
OBSI chief executive Sarah Bradley says in a news release that the increase comes as part of a rising trend of complaints seen throughout the COVID-19 pandemic as customers face increased financial stress and rates of financial fraud. She says changes last year to financial consumer protections laws have also led to more complaints being brought to and addressed through the system.
The federal government committed in last year’s budget to creating a single banking ombuds after pressure from numerous groups, but for now the OBSI handles complaints on CIBC and BMO along with numerous investment firms, while the ADR covers RBC, TD, Scotiabank and National Bank.Share this article in your social network
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Banking complaints agencies report record numbers for 2022 - BNN BloombergCanada's two banking complaints agencies say there were a record number of inquiries and cases opened last year.
Read more »
Banking complaints agencies report record numbers for 2022Canada's two banking complaints agencies say there were a record number of inquiries and cases opened last year.
Read more »
Banking complaints reached new records in 2022: reportCanada's Ombudsman for Banking Services and Investments says it responded to a record high of more than 10,000 public inquiries in 2022, and the number of fraud complaints rose dramatically year-over-year.
Read more »
Banking complaints in Canada reached new highs in 2022Canada\u0027s Ombudsman for Banking Services and Investments opened a record 1,151 cases in 2022. Find out more.
Read more »
Canada's banking complaints agencies report record numbers for 2022Canada\u0027s two banking complaints agencies say there were a record number of inquiries and cases opened last year.
Read more »
Canada's banking complaints agencies report record number of complaints for 2022Canada\u0027s two banking complaints agencies say there were a record number of inquiries and cases opened last year.
Read more »