Making a Complaint

Your Complaint and FCAC

What types of complaints does FCAC deal with?

Federally regulated financial institutions have certain legal obligations to consumers, ranging from account-opening requirements to information they must provide you. At FCAC, we investigate complaints that relate to a possible violation of these legal obligations.

What is FCAC's role in handling complaints?

We determine the nature of a complaint and, when there is a breach of the law, we take action to ensure compliance by the financial institution. We do not provide personal redress (i.e., compensation or monetary award). Our focus is on making sure that institutions comply with the law.

Who can file a complaint and how?

Any consumer can file a complaint with FCAC, and there's no cost involved. Call us toll-free at 1-866-461-3222 or send us a message.

Are there matters that FCAC cannot investigate?

We do not handle complaints involving:

• the pricing of products (e.g., insurance premiums, service fees, credit card charges)
  
  
• the quality of service you received
  
  
• loan and credit granting policies
  
  
• billing errors, advertising or contractual matters
  
  
• other general service issues
  
  

These matters are determined by an institution's policies. You should deal directly with your financial institution or its third-party dispute resolution body. When receiving complaints of this nature, we will try to help by referring you to the appropriate organization.

If you have difficulty finding out about your institution's complaint handling process or experience problems using it, we want to know.

If you don't know the complaint handling process for your financial institution, click here or you can call us toll-free: 1-866-461-3222 and we will be pleased to provide you with it.

• For banks and trust companies, you may contact the Ombudsman for Banking Services and Investments (OBSI) .
  
  
• For concerns and complaints about life and health products and services issued by life insurance companies, contact the OmbudService for Life and Health Insurance (OLHI).
  
  
• For problems concerning home, car and business insurance, you can contact the General Insurance OmbudService (GIO) .
  
  
• For complaints against other financial institutions, the agency to contact will vary depending on your financial provider and the province you live in.
  

Is FCAC responsible for all financial institutions?

As an agency of the federal government, we investigate complaints about financial institutions under federal jurisdiction. These institutions include all banks and all federally incorporated or registered insurance, trust and loan companies, and co-operative credit associations. FCAC is not responsible for credit unions, finance companies, mutual fund dealers, securities dealers and other financial institutions that fall under provincial jurisdiction. For a listing of provincial regulators, click here.

Is there anything I should do before contacting FCAC?

You must first try to resolve your complaint directly with the financial institution. When contacting FCAC, make sure you have all the facts on hand. This information will assist us in determining whether your complaint involves a possible breach of federal legislation.

How will FCAC handle my complaint?

• We will ask for details about your complaint, assess whether it involves a possible breach of the law, and determine whether it falls within the jurisdiction of another government department or agency. If we need to do some research, we will call you back within 48 hours.
  
  
• We will investigate to determine whether the financial institution has respected its obligations, including whether there has been a possible violation of a consumer provision, or a failure to comply with a public commitment or code of conduct. FCAC has the authority to impose a number of compliance measures, including monetary penalties, but cannot offer – or require the institution to offer – redress or compensation. To seek redress or compensation you will have to go through your financial institution’s complaint-handling process, which may include a third-party ombudsman or dispute resolution body.
  
  
• We will take action on the information you provide. An FCAC compliance officer will contact your financial institution to discuss your complaint. If the compliance aspect of your complaint is not resolved with the financial institution, the officer may recommend that further action be taken, for example, by conducting a formal investigation. In this case, we will request factual information in writing from you and the institution.
  
  
• Once the formal investigation is complete, our response will vary depending upon our findings. In cases of non-compliance with the law, we may issue a warning letter or Notice of Violation to the institution and impose a monetary penalty. We may also publicize details of a violation, including the name of the institution that committed it and the amount of the penalty imposed.
  

Why is FCAC interested in my complaint?

When we are alerted to potential breaches, we can take steps to ensure compliance. We also report to Parliament on the types of complaints we receive and the performance of financial institutions in meeting their legal obligations. This information is released to the media and other interested parties. In addition, your complaint will help us analyse and report on trends in customer service issues for the financial industry.

Where can I get more information?

Call us toll-free at 1-866-461-3222. You can learn more about the consumer obligations of financial institutions by visiting the Your Rights and Responsiblities section of our Web site.