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June 18, 2019, 07:32:01 am

Author Topic: Financial Ombudsman Cases  (Read 191 times)  Share 

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raymond.semaan

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Financial Ombudsman Cases
« on: June 12, 2018, 06:35:23 pm »
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Does anyone have a list of cases concerning the Financial Ombudsman and their efficiency in resolving consumer disputes?

katie,rinos

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Re: Financial Ombudsman Cases
« Reply #1 on: June 12, 2018, 09:31:22 pm »
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Does anyone have a list of cases concerning the Financial Ombudsman and their efficiency in resolving consumer disputes?
Hey,
I didn't have any cases involving the financial ombudsman last year but this website might help!!

The cases I had for credit all involved ASIC. They were:
Commonwealth Bank v. ASIC (2017): Refund over 65000 customers approximately $10M, after selling unsuitable credit insurance.
Citibank v. ASIC (2017): Refunds $5M in credit card international transaction fees.
Cash Converters v. ASIC (2016): Required to pay over $12M after they ‘failed to assess small amount loans as unsuitable’.
Westpac v. ASIC (2016): Pays $1M after concerns about credit card limit increase practises.

Hope this helps!! :D
Class of 2017 (Year 12): Advanced English, General Maths, Legal Studies, Music 1, Ancient History, History Extension, Hospitality
2018-2022: B Music/B Education (Secondary) [UNSW]