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Minor service disruption advisory for 1 July 2015. Read more
Tags:  general
Effective dispute resolution builds trust in the financial system, according to the Financial Ombudsman Service (FOS) Australia. Read more
Tags:  members
FOS's Operational Guidelines have been updated in line with our Terms of Reference effective 1 January 2015. Read more
Tags:  general
After the most recent round of consultation, the FOS Board has considered stakeholder submissions on two additional Terms of Reference amendments and one amendment previously considered, and has now issued its response. Read more
Tags:  consumers, members
The role of a credit reporting agency (agency) is to collect and record specific types of information about an individual. The agency's obligation is to ensure that the information recorded accurately reflects the information your credit provider has given the credit reporting agency. The type of information recorded may include default information, payment information and repayment history information. Read more
Tags:  disputes
The recent independent review of FOS recommended changes to our processes and jurisdiction. Some recommendations included specific Terms of Reference changes, and others contained process changes which require amendments to the Terms of Reference. We are now consulting on a range of changes to our Terms of Reference, and invite feedback from all interested stakeholders. Read more
Tags:  consumers, members
The CBA has announced an 'Open Advice Review' program to deal with disputes relating to from Commonwealth Financial Planning and Financial Wisdom between 1 September 2003 and 1 July 2012. Read more
From 2 June 2014 we are piloting a faster dispute handling process for some single issue credit listing disputes and simple low-value banking and finance disputes (that have a claim amount of less than $10,000 and that meet a set of selection criteria). Read more
Tags:  consumers, disputes
FOS recently made a submission to the Financial System Inquiry. The Inquiry will establish a direction for the future of Australia's financial system and lay out a 'blueprint' for the financial system over the next decade. Read more
Tags:  publications
The Financial Ombudsman Service (FOS) has been approved to handle privacy and credit reporting complaints now that new laws about credit reporting have come into effect. Read more
Tags:  consumers, disputes