Consumer Credit Legal Centre (NSW) and the Consumer Action Law Centre (Victoria) have coordinated and written a joint-consumer submission to the independent review of the Financial Ombudsman Service. The submission contains contributions from twelve other organisations, and received funding from the Financial Ombudsman Service.
Contributors broadly believe that, while there is room for improvement, the Financial Ombudsman Service is providing an essential service of a high standard and should be congratulated. This view was echoed in responses to the online survey of financial counsellors.
Case delays were by far the biggest concern for organisations who contributed to the submission and, while we acknowledge that Financial Ombudsman Service is making genuine efforts to reduce delay, we have provided a number of recommendations on this topic.
