All posts tagged "Ombudsman"
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417IndiaRBI Issues New Framework on Offline Digital Payments
Offline digital payments are expected to benefit areas with weak internet or telecom connectivity, particularly semi-urban and rural areas.
January 6, 2022 -
174Australia & NZTreasury Offers Recommendations to Improve AFCA’s Operations
Treasury recommends government remove the legislative requirement for authorised credit representatives to be members of AFCA.
December 6, 2021 -
133Australia & NZ
AFCA Launches Benchmarking Tool for Complaints Resolution
The platform enables FIs to track complaints resolution and compare their performance against an anonymised set of similar financial firms.
November 24, 2021 -
168IndiaRBI Mandates Designation of Internal Ombudsman at NBFCs
NBFCs with 10 or more branches and with asset size of INR 50 billion have six months to appoint an internal ombudsman in charge of grievance redressal.
November 19, 2021 -
269India
RBI Combines Ombudsman Schemes for Regulated Entities
The new scheme combines the existing ombudsman schemes for banks, NBFCs and payment system operators and centralises complaints filing and processing.
November 16, 2021 -
410EnforcementTaiwan: Revised Financial Consumer Protection Act Take Effect
The amendments raise the limits on compensation that can be awarded in consumer disputes without being subject to appeal.
September 22, 2021 -
325EnforcementTaiwan FSC to Raise Compensation for Automatic Dispute Settlement
The FSC will raise the compensation ceilings under which financial companies have to automatically accept settlement decisions.
August 10, 2021 -
848AML / KYCGood Intentions: The FATF Faces Its Own Unintended Consequences
The FATF's unintended consequences study will point to necessary reforms that the watchdog will be unwilling to undertake.
August 8, 2021 -
320Australia & NZAustralian Banks Face Backlash for Refusal to Finance Coal, Mining
Small business ombudsman Bruce Billson is seeking powers to compel banks to "show cause” for decisions to refuse services to companies.
May 7, 2021 -
200India
RBI Enhances Rules for Banks’ Grievance Redress Mechanisms
The framework provides a mechanism for the ombudsman to recover the cost of redressal from banks whose complaints exceed their peer group average.
January 30, 2021
