Cross-bench senator Nick Xenophon says he and his party have made no promises to the Turnbull Government on whether they will support the planned overhaul of external dispute resolution schemes in the financial sector.The government last week released draft exposure legislation for the reforms, which, if implemented, would meld the three existing complaint resolution schemes - the Financial Ombudsman Service, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal - into a single scheme known as the Australian Financial Complaints Authority.Senator Xenophon last year called for the Financial Ombudsman Service to be shut down and replaced with a government-run agency "with teeth" after it declined to hear a complaint brought by a small business against a bank. Industry lobbyists are targeting a string of other cross-bench senators before federal parliament votes on the proposed reforms later this year.Xenophon and his Senate colleagues have exercised a decisive influence in tight votes on government bills in the upper house in the current parliament and earlier this year struck a deal to pass company tax cuts.The Nick Xenophon Team secured three senators at the 2016 election, but their leader's influence regularly extends to other crossbenchers on bills affecting the financial services industry.In 2014, Xenophon played a critical role in persuading other crossbenchers to shoot down the Abbott Government's controversial Future of Financial Advice reform package.In an interview with Banking Day Senator Xenophon said he had not given any undertakings to the government to support the reform bill when it comes before the senate at the end of this month or during the August sitting."If what the government is proposing is a brand new organisation with new powers, real teeth and independence then we will look at it," he said."But I haven't undertaken to do anything on this matter."Industry lobbying of crossbench senators has already begun with the Credit and Investments Ombudsman scheme confirming it had hired a professional firm to advance its campaign against the government's proposals.Under the government's planned changes, existing dispute resolution schemes will no longer be able to operate because ministerial approval will only be given to an integrated service provider.CIO chief executive Raj Venga rejected suggestions that his scheme's days were numbered."That's assuming the legislation is going to pass," he told Banking Day."I think it would be suicide for Labor and the crossbenchers to support this bill - the new scheme will never be able to do what a royal commission into banking can."I think until the legislation is presented to parliament it's hard to know what the Opposition and crossbenchers are going to do."Labor leader Bill Shorten has not indicated publicly whether the opposition will allow the government's bill to pass in both houses.Impetus for the reforms has come from consumer groups, which have been campaigning for the various ombudsman schemes to be unified into a "one stop shop".Gerard Brody, a director of the Melbourne-based Consumer Action Law Centre, said his organisation supported the reforms but was concerned that the transition to the new scheme could be