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Photo: Contributed
Canada's financial consumer watchdog has got the green light to probe how banking customer complaints are handled internally and by external complaint bodies.
The Financial Consumer Agency of Canada said the new review is still in the planning stages but the government's direction in the fall economic statement Wednesday officially kicks off the process.
Banking-related investigations handled by OBSI, a non-profit organization funded by the industry, surged by 28 per cent last year to 370. Credit cards, mortgages and personal accounts drew the most customer grievances.
