Determinations


Where the complaint is not able to be resolved by non-adjudicative means, the Ombudsman can make a Determination which is binding on the financial services provider (FSP) but only if the consumer accepts the Determination in full and the final settlement of the complaint. The Determination includes the Ombudsman’s reasons for making the Determination and it is published on CIO’s website.


The consumer has 28 days to accept or reject the Ombudsman’s Determination. If the consumer does not accept the Determination, the complaint is closed but the consumer is free to pursue the complaint elsewhere. If the consumer accepts the Determination, the FSP is bound by it. Once the FSP has given effect to the Determination, the complaint is closed.

Please see below for Determinations made by the Ombudsman.


23 November 2016
Determination - 23 November 2016
  • Car loan
  • Credit provider
  • Failure to provide notice of default
  • Failure to adhere to ACCC/ASIC guidelines
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23 November 2016
Determination - 23 November 2016 (b)
  • Investment loans
  • Company borrowers
  • Unregulated loans
  • Credit provider
  • Misrepresentation/Misleading conduct
  • Unconscionable conduct
  • Inappropriate finance 
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24 October 2016
Determination - 24 October 2016
  • Car loan with NZ company
  • Debt collection
  • Outside of CIO’s jurisdiction
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22 July 2016
Determination - 22 July 2016
  • Financial product/investment loans
  • Lender
  • Delayed settlement of
    loan and loan refinance
  • FSP provided inaccurate information
    about the loan discharge
  • FSP attempted to recover loan funds
    in an inappropriate manner
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11 July 2016
Determination - 11 July 2016
  • Investment loan
  • Lender
  • Poor customer service
  • Misleading information concerning a credit product 
  • Misleading information concerning interest rate charges
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8 June 2016
Determination - 8 June 2016
  • Home loan
  • Financial Hardship - payment arrangement
  • Breach of CIO Rules - Enforcement action
  • Repossession of property during an active complaint
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24 November 2015
Determination - 24 November 2015
  • Refinance
  • Mortgage broker
  • Failure to provide services with due care and skill
  • Insufficient funds to complete refinance
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1 July 2015
Determination - 1 July 2015
  • Credit
  • Mortgage broker
  • Unconscionable conduct
  • Unaffordable loans
Read More
29 June 2015
Determination - 29 June 2015

Key Issues

  • Credit
  • Mortgage Lender
  • Unlicensed credit

 

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26 June 2015
Determination - 26 June 2015

Key Issues

  • Credit
  • Debt negotiation services
  • Fees and charges

 

Read More
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