Where to complain about a financial institution
In Canada a complaint about a bank, lender or financial service normally goes to the institution first, then to its external ombudsman, and then to the federal…
The three-step route
Most complaints follow the same escalation. Skipping a step usually just sends you back to the beginning.
- Complain to the institution. Banks and federally regulated financial institutions must have a complaint-handling process and must give you a decision within a set period.
- Escalate to the external ombudsman. If you are not satisfied, you can take the complaint to the independent dispute-resolution body the institution belongs to.
- Contact the regulator. The Financial Consumer Agency of Canada supervises the consumer-protection obligations of federally regulated financial institutions.
Who does what
| Body | Handles |
|---|---|
| Financial Consumer Agency of Canada (FCAC) | Consumer-protection obligations of federally regulated banks and financial institutions |
| External ombudsman (OBSI) | Unresolved disputes with participating banks and investment firms |
| Office of the Superintendent of Bankruptcy (OSB) | Insolvency, consumer proposals, Licensed Insolvency Trustees |
| Office of the Privacy Commissioner (OPC) | Privacy complaints under PIPEDA |
| Office of the Superintendent of Financial Institutions (OSFI) | Prudential regulation and soundness of financial institutions |
What to include
- Your name and contact details, and any account or reference number.
- A dated timeline of what happened.
- Copies of statements, agreements, letters or emails.
- What outcome you are asking for.
Debt and insolvency complaints
If your complaint concerns a consumer proposal, bankruptcy, or the conduct of a Licensed Insolvency Trustee, the Office of the Superintendent of Bankruptcy is the relevant body.
Promissory.ca is not a regulator and cannot resolve a complaint. This page links to the bodies that can.
Source: Financial Consumer Agency of Canada — Financial Consumer Agency of Canada. Retrieved 2026-09-16.
Source: Office of the Superintendent of Bankruptcy — Government of Canada — OSB. Retrieved 2026-09-16.
Source: PIPEDA — Personal Information Protection and Electronic Documents Act — Office of the Privacy Commissioner of Canada. Retrieved 2026-09-16.
Sources
- Financial Consumer Agency of Canada — Financial Consumer Agency of Canada
- Office of the Superintendent of Bankruptcy — Government of Canada — OSB
- PIPEDA — Personal Information Protection and Electronic Documents Act — Office of the Privacy Commissioner of Canada
Frequently asked questions
Who regulates banks in Canada?
The Financial Consumer Agency of Canada supervises the consumer-protection obligations of federally regulated financial institutions, while OSFI handles prudential regulation.
Do I have to complain to the bank before going further?
In practice yes. Most ombudsman schemes require you to give the institution a chance to resolve the complaint first.
Is there a free ombudsman for bank disputes?
The Ombudsman for Banking Services and Investments (OBSI) provides independent dispute resolution for participating banks and investment firms. Its service is free to consumers.
Where do I complain about a debt collector or a Licensed Insolvency Trustee?
The Office of the Superintendent of Bankruptcy handles complaints about Licensed Insolvency Trustees and the insolvency process.
Important legal information
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