Interesting.

Ombudsman for Banking Services and Investments (known as OBSI), is the alleged ombudsman for people who have grievances with banks after complaining directly to the bank fails. There is an escalation required before OBSI will take a look.

And by their own numbers, most people are not happy with OBSI’s decisions.

I wrote about OBSI on AK before Hostinger decided to screw me over and yank my website despite me giving them proof that I owned my own account; so I lost those entries, but the CBC piece has a quote that sums up what I said there.

Conacher says Singfield’s case highlights the power imbalance when average customers battle big banks. 
“You’re up against the bank with a team of lawyers and unlimited resources to drag it out and argue their case,” he said. “On the other side is the lowly consumer on their own.”

Duff Conacher, co-founder of the citizen advocacy group Democracy Watch.

And then the spokesperson tries to spin the inequality:

OBSI spokesperson [John] Bowes said that people who turn to OBSI don’t require legal representation or specialized knowledge “to be assured of a fair outcome.”

This is a load of hooey: banks will use lawyers to advocate for their side, meaning OBSI is perfectly okay with the unfair fight.

And, banks just don’t have a team of lawyers using your monthly fees against you: they have experience. They have fought hundreds of these complaints while you, little middle-class person, have zero.

Their “senior investigators” make a pretty penny, too: $95,000 being the minimum, though it is in the six figure range.

They have every reason to side with the banks to keep their cushy jobs while beguiling the public with the myth that if something goes wrong, they have recourse.

No, you don’t. Yo have to follow their made-up rules, and even if you were harmed, but it doesn’t fit into their narrow definitions, well, too bad for you.

OBSI shouldn’t exist. It is a farce that drags its feet, is extremely rude to those who complain, and then sides with the banks.

Their “ruling” on the case outlined in the story tells you everything you need to know: they side with behemoths who butter their bread.

You little people, you haven’t got a prayer unless some media outlet takes pity on you, and even then , these days, is a crap shoot.