Ombudsman Services

• John Kavanagh

The Australian Financial Complaints Authority will have more power to resolve complaints early under revised rules and operational guidelines that will take effect in July. read more

• John Kavanagh

The government has appointed Jo-Anne Bloch to chair the board of the Compensation Scheme of Last Resort, which will start accepting claims for compensation from April 2. read more

• John Kavanagh

Large banks and insurers will pay an initial levy of A$241 million for historical claims to be handled by the new Compensation Scheme of Last Resort. read more

• Banking Day staff

Senior Treasury official Sarah Hunter will join the Reserve Bank in January as its chief economist and assistant governor (economics). read more

• John Kavanagh

Dealing with complaints over scams is a growing area of activity for the Australian Financial Complaints Authority, occasionally putting the ombudsman at loggerheads with financial institutions. read more

• Banking Day staff

The Australian Financial Complaints Authority has appointed two new industry directors – Raylene Bellottie and Yien Hong. read more

• John Kavanagh

Delays in acting on instructions, inappropriate debt collection practices, errors in credit reports and errors in the calculation of minimum loan repayments featured among the systemic issues the Aust.. read more

• John Kavanagh

The chief financial ombudsman has criticised banks and other financial institutions for failing to deal with customer complaints before they are escalated to the external dispute resolution stage. read more

• John Kavanagh

Banks took a more proactive approach to dealing with customers facing financial hardship during the pandemic and some have maintained that approach over the past year, as interest rates have risen. read more

• John Kavanagh

Inadequate testing, monitoring and control of processes and system changes are at the heart of many of the failings the Australian Financial Complaints Authority has identified in its latest review of.. read more

• Banking Day staff

Bank of Sydney has appointed former MyState chief executive Melos Sulicich as its new CEO. read more

• Banking Day staff

The board of the Australian Financial Complaints Authority has reappointed chief executive and chief ombudsman David Locke for a second five-year term. read more

• John Kavanagh

The Australian Competition and Consumer Commission has warned that so-called “bank impersonation scams” are becoming increasingly sophisticated and hard to detect. read more

• John Kavanagh

Two financial services reform bills, one to establish the Compensation Scheme of Last Resort and the other to establish the Financial Accountability Regime, were passed in the House of Representatives.. read more

• Banking Day staff

Buy now pay later company Laybuy has confirmed that it will be removed from the official list of the Australian Securities Exchange on Friday, March 24. read more

• John Kavanagh

The head of Australia’s financial ombudsman service has expressed his “deep concern” that financial services companies are not meeting their dispute resolution obligations. read more

• John Kavanagh

The Australian Financial Complaints Authority will have enhanced powers to exclude complainants and paid representatives whose conduct is unreasonable, under proposed changes to its rules and operatio.. read more

• John Kavanagh

Complaints to the Australian Financial Complaints Authority about unauthorised activity on transaction accounts rose 45 per cent in the year to June, making personal transactions one of the most conte.. read more

The Australian Financial Complaints Authority has appointed Natalie Cameron as its lead ombudsman for banking and finance. read more

• John Kavanagh

The Australian Financial Complaints Authority has had to pause 2447 complaints, involving claims worth around A$376 million, because the firms involved are insolvent. read more