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In December 2010, Ms. R was 60 years old, had been retired since 2008, and had been divorced for several years. Between 2008 and 2010, her annual income averaged $17,500. She owned her home that was valued at $352,000 and had $100,000 in investable savings. Her investment objective was to generate income from her investment portfolio to supplement her income.
Toronto, February 19, 2020 – Today, the Financial Consumer Agency of Canada (FCAC) released its review of bank complaint handling procedures and of the operations of external complaints bodies (ECBs), which included the Ombudsman for Banking Services and Investments (OBSI).
Read OBSI's latest newsletter for information on our community outreach, approach to our six year limitation period, our stats for fiscal 2019 as well as Q4, and more.
In September 2004, Mr. D returned to school with the intention to complete his studies by April 2005. Like many post-secondary students, Mr. D needed help to pay for his education, and in 2004, he took on both federal and provincial student loans through the Ontario Student Assistance Program (OSAP).
Romance and employment scams are the most common online scams we see at OBSI. According to the Canadian Anti-Fraud Centre, Canadians lost more than $22.5 million to romance scams and more than $5 million to employment scams in 2018.
Read OBSI's latest newsletter for information on our new Firm Portal, our comment to the FCAA, our video on YouTube and more.
I am pleased to report that since assuming the role of Chair of CIAC in December of 2018, the Council has been actively involved in providing commentary and advice to the Board of OBSI.
OBSI is excited to announce the launch of our new Firm Portal. The Firm Portal provides OBSI’s 1400+ participating firms with a secure, web-based access point to a broad range of features and services including:
In early 2017, Mr. W returned from his yearly vacation. He was always diligent about checking his account activity. When he went online to review his vacation spending, he noticed three transactions for around $4,000 for cheques that he had not written.
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