Overview

The Australian Financial Complaints Authority resolves disputes between consumers or small businesses and financial firms through a free, independent ombudsman service. It considers complaints about banking, loans, insurance, investments, financial advice and retirement savings that firms have not resolved through their internal complaints process. The scheme brings these disputes into a single service and makes decisions that are binding on financial firms. It operates as a private nonprofit, funded by contributions from member firms through levies and complaint fees. Established in 2018, the organisation is headquartered in Melbourne, Victoria.