The Consumers Council of Canada has published an e-book in its new “Consumer Perspective 360º” series entitled Canada’s Banking Dispute Resolution System. The e-book covers the history and issues of banking dispute resolution surrounding the Government of Canada’s commitment in its Budget 2010 to strengthen the dispute resolution framework for banks and authorized foreign banks by establishing minimum standards required for institutions’ complaints procedures. Canada’s Department of Finance made public its proposal for reform in the summer of 2012. This is a complex issue and the Council’s e-book attempts to demystify for consumers and others the circumstances that have divided the country’s banking industry over how to deliver independent, external dispute resolution and redress to Canadian consumers. Canada’s Banking Dispute Resolution System will be useful to deeply interested consumers, academics, policy makers and journalists needing to learn about this complex consumer protection and industry issue area.
The Council’s position on the reform process for banking dispute resolution now underway is also available online. Click here to read it.