OBSI releases first ever Canadian seniors’ complaints report

OBSI releases first ever Canadian seniors’ complaints report

Today, OBSI released its first ever ‘Seniors Report’ with demographic and case data collected for 2017 and 2018 using the age of 60 as the threshold age for a senior. Older Canadians are more likely to file complaints about financial services and accounted for 38% of complaints that OBSI received over a two year period.

To read the news release, please click here.

The 2019 Seniors Report can be found on the OBSI website, in both English and French.

Canada’s Ombudsman for Banking Services and Investments (OBSI) is a national, independent and not-for-profit organization that helps resolve and reduce disputes between consumers and financial services firms in both official languages. OBSI is responsive to consumer inquiries, conducts fair and accessible investigations of unresolved disputes, and shares its knowledge and expertise with the stakeholders and the public. If a consumer has a complaint against an OBSI participating bank or investment firm that they are not able to resolve with the bank or firm, OBSI will investigate at no cost to the consumer. Where a complaint has merit, OBSI may recommend compensation up to a maximum of $350,000.

Reference: https://www.obsi.ca/en/index.aspx