Annual Report on Operations 2018

The Credit and Investments Ombudsman (CIO) has released its Annual Report on Operations for 2017/18.

Key highlights for the year include:

  • 6,293 complaints were made against financial services providers, up 6.8%,

  • nearly 25,505 enquiries were received, down 4%,

  • credit reporting complaints made up 27.3% of all complaints received,

  • financial hardship complaints have decreased to 17.4% of all complaints received,

  • more than 25,000 financial services providers are now members of CIO, and

  • 38 new systemic issues were reported to ASIC, a number of them have been the subject of regulatory action, including remedial outcomes.

Follow the link to download a full copy of the report:

FSP Complaint Statistics

>> Supplementary information

Authorised deposit-taking institutions

Brokers and aggregators

Commercial finance providers

Consumer lease providers

Credit or charge card providers

Credit repair and debt mediation service providers

Debt collectors and purchasers

Financial planners and advisers

Lenders' mortgage insurance providers

Motor vehicle finance providers

Personal loan providers

Small and medium amount loan providers

Vendor finance providers