Prime Minister Malcolm Turnbull was careful to say he was not pre-empting the work of a recently established inquiry into finance sector dispute services when he gave support to the creation of a tribunal to deal with consumer claims against banks in an interview on Friday.However, he did appear to come down strongly in favour of the establishment of a tribunal - one of a number of options the review panel has been asked to consider.Turnbull told a radio interviewer: "It's a proposal that we are working towards and we have Professor Ian Ramsay conducting a review of a number of bodies… And what we are working towards is having one tribunal that deals with, if you like, consumer claims in a cost effective and speedy way to get matters resolved.""We'll obviously wait for the advice from Professor Ramsay's expert group as to how it should be set up, but we will get a low cost, speedy tribunal to deal with these types of consumer complaints against banks."Last month, the Treasurer appointed Melbourne Law School professor of commercial law Ian Ramsay to head a panel to review external dispute resolution processes in the financial services industry.The panel was asked to consider several options for expanding the scope of EDR and improving consumer outcomes, including a merger of existing schemes, a "triage" overlay, the creation of a new body to deal with small business complaints and the creation of a tribunal. Last week's scrutiny of big bank CEOs by a parliamentary committee drew support from the industry for such a tribunal. The committee's chair, Liberal MP David Coleman, made questions on the topic a central theme, with all bank CEOs voicing support.The brief for Ian Ramsay's review covers work currently being done by the Financial Ombudsman Service, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal.The panel is looking at how accessible the schemes are and how easy it is for consumers to communicate with them. It is looking at how effective they are, whether their jurisdictions and monetary limits are appropriate, and whether consumers get consistent and comparable outcomes.It is also looking at whether the level of regulatory oversight of EDR schemes is appropriate. Currently ASIC's role is limited to high-level policy settings.When the Treasurer first announced the review in April he floated the prospect of a one-stop shop for financial services external dispute resolution. A consultation paper says a one-stop shop could reduce confusion among consumers, ensure greater consistency of outcomes and create efficiencies.The UK Government did this in 2000, when it merged eight schemes to create the Financial Ombudsman Service.As an alternative, the established schemes could remain in place and have their services co-ordinated by a triage service that would be an entry point for consumers and guide them in making a complaint.A third option is to establish a new scheme that would deal with small business complaints.A fourth option for the review to consider is to set up an administrative tribunal to review EDR determinations. This