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26/09/2014
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
07/07/2014
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
04/07/2014
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
28/05/2014
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
16/04/2014
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
14/04/2014
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
10/04/2014
We launched a new learning portal on Monday 14 April. FOS elearning provides a simplified user interface, giving members, consumers and the general public access to our specialised training modules. Read more
Tags:  elearning
05/03/2014
Following the retirement from the Board of long-standing Consumers’ Director Ms. Jenni Mack, the FOS Board has recently finalised the appointment of a new Consumers’ Director to the Board in accordance its Constitution and Board Charter. Ms. Elissa Freeman has been appointed to the FOS Board for a three year term, effective 1 June 2014. Read more
Tags:  general
15/10/2013
The following information sheet sets out some background information about Gunns Plantation Ltd (GPL) and how we are dealing with disputes lodged about certain agricultural managed investment schemes for which GPL was the responsible entity. This follows the appointment of an Administrator and Receivers and Managers to GPL and related entities in 2012. Read more
14/10/2013
As an ASIC approved external dispute resolution (EDR) scheme, FOS is required to undertake an Independent Review. The FOS Board, in consultation with ASIC, have engaged Cameronralph Navigator to undertake this review. As part of the independent review, Cameronralph Navigator will publicly invite submissions from stakeholders. Read more