Our Role

We provide a free, independent and impartial dispute resolution service. We facilitate the resolution of complaints between consumers and participants of our scheme. In doing so, we provide both consumers and financial services providers with an alternative to legal proceedings for resolving financial services disputes.We are not government-funded, nor do we regulate the financial services industry or discipline participants of our scheme.

We are required to meet certain benchmarks prescribed by the Australian Securities and Investments Commission (ASIC) and have been approved by ASIC to operate as an external dispute resolution (EDR) scheme in the financial services industry.

Participants of our scheme include non-bank lenders, finance brokers, credit unions, building societies, debt collection firms, financial planners, trustees, servicers, aggregators, mortgage managers, and many more.

The Credit and Investments Ombudsman (CIO), previously known as Credit Ombudsman Service Limited (COSL), has been approved by the Office of the Australian Information Commissioner (OAIC) to handle privacy and credit reporting complaints under the Privacy Act 1988. All credit providers are required to be a member of an EDR scheme recognised by the OAIC before they are permitted to disclose credit information to a credit reporting body or access such information. If a person is dissatisfied with the decision of a credit reporting body or a credit provider about their complaint, or about the outcome of an access or correction request, they can complain to CIO about this as long as the credit reporting body or credit provider is a member of CIO.

For more information about our services, becoming a participant of the scheme, or making a complaint, contact one of our friendly team members.