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We help resolve disputes between consumers and their financial services firms
We are fair, free and independent
OBSI is here to help
OBSI resolves disputes between over 1500 financial services firms and their consumers
Inquiries received in 2023
17,000+
Increase in inquiries in 2023
63%
Cases opened in 2023
3000+
Toronto, November 1, 2024 – Starting today, OBSI will serve as Canada’s sole, designated External Complaints Body (ECB) for banking. From today, OBSI will be accepting complaints from consumers of all federally regulated banks. This decision, made by the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, streamlines the complaint resolution process for consumers across the country.
As a not-for-profit organization, OBSI recovers all of its budgeted operating expenses from its participating firms each year. OBSI's budget and the allocation of this budget between the different industry sectors that use OBSI's services is approved by OBSI's Board of Directors each September. Our board also considers fairness and the impact of fee changes on member firms when setting fees. A guiding principle is that no sector or registrant category should subsidize another.
Read OBSI's latest newsletter featuring our Q3 case statistics, a new approach, a public consultation, and more.
Click here to read OBSI e-news: Q3/2024.
FOR CONSUMERS
FOR FIRMS
Fraud Awareness
At OBSI, we have seen a significant increase in complaints related to cryptocurrency and fraud. Here’s what happened to a senior who was targeted in a crypto investment scam.
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