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OBSI announces new board members

TORONTO, March 01, 2024 (GLOBE NEWSWIRE) -- The Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) is pleased to announce four appointments to the board:

OBSI's bylaws require the majority of directors, including the chair, to be independent, meaning they have not been affiliated with industry or government for at least two years. These independent directors are referred to as community directors. Three of the community directors are also designated as consumer interest directors, who have a particular interest in, access to, and competency with the interests and perspectives of the types of consumers that OBSI serves. The board also includes three designated industry directors who are directly affiliated with a participating firm.

Industry directors and consumer interest directors are expected to bring their unique perspectives and expertise to board deliberations to ensure that OBSI governance is undertaken with an understanding and appreciation of the interests and concerns of all the stakeholders served by the organization. All directors have a fiduciary duty to OBSI and do not advocate for or represent any outside interest while engaged in OBSI governance.

The Board of Directors would also like to express its sincere thanks to community directors Catherine Adams, Carmela Haines and Bharat Mahajan who have completed their terms, for their contributions, insights and commitment to OBSI throughout their many years of service. 

More information about the Board of Directors is available on the OBSI website here

Canada's Ombudsman for Banking Services and Investments (OBSI) is a national, independent, not-for-profit organization that helps resolve and reduce disputes between consumers and financial services firms in both official languages. OBSI is responsive to consumer inquiries, conducts fair and accessible investigations of unresolved disputes, and shares its knowledge and expertise with all stakeholders and the public. If a consumer has a complaint against an OBSI participating bank or investment firm that they are not able to resolve with the bank or firm, OBSI will investigate at no cost to the consumer. Where a complaint has merit, OBSI may recommend compensation up to a maximum of $350,000.

For more information, contact:
Mark Wright, Director, Communications and Stakeholder Relations
416-287-2877 ext.2225
[email protected]

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