Starting November 1, 2024, OBSI will be the sole complaints body for major Canadian banks, enhancing consumer protection.

Effective November 1, 2024, the Ombudsman for Banking Services and Investments (OBSI) will serve as the sole External Complaints Body for major Canadian banks, including Royal Bank of Canada and TD Bank. This change aims to enhance consumer protection and streamline complaint resolution, addressing previous criticisms of banks' self-serving ombudsman services. OBSI will review unresolved complaints, ensuring fair treatment amid a rise in bank-related fraud.