TORONTO, June 25, 2026 – The Financial Consumer Agency of Canada released revised bank complaint-handling guidance on June 23, clarifying that banks must resolve or close a case within the statutory 56-day period after receiving a consumer complaint. The clock cannot be paused during that period. Customers dealing with unauthorized transactions, frozen accounts, incorrect charges, transfers, credit card disputes or loan-related issues should note that internal investigations, referrals between departments and requests for additional information cannot restart or extend the deadline.
The Financial Consumer Agency of Canada said the revisions reflect regulatory findings since the related requirements took effect in 2022. The updated guidance further clarifies banks’ responsibilities and requires complaint procedures to be timely, clear and accessible to consumers.
Under the guidance, any expression of dissatisfaction concerning a bank product, service or sales practice should be treated as a complaint. Consumers do not need to use specific legal language or describe the matter as a “formal complaint” before the bank begins handling it.
After receiving a complaint, the bank should promptly provide written confirmation stating the date the complaint was received, the complaint-handling process, the applicable timeline, the next steps and how the consumer can escalate the case to a higher level.
The bank’s internal deadline for referring a complaint to a designated complaint-handling employee is included within the overall 56-day period. A bank cannot stop the clock because the case has been transferred to another department, it is waiting for the customer to respond, or its internal investigation has not yet been completed.
Previous examinations by the agency found that some banks had paused the 56-day period while waiting for customer information or had excluded the time used by their highest-level complaint-handling department. The revised guidance again makes clear that the 56 days must be counted continuously and must include every level of the bank’s internal complaint process.
For cases that cannot be resolved at the initial stage, the bank should issue a final written decision after completing its review. The notice should clearly explain the investigation findings, whether a refund or other remedy will be offered, and the consumer’s right to take the complaint to an external organization.
Consumers who remain dissatisfied after receiving the bank’s final written response can submit the complaint to the Ombudsman for Banking Services and Investments, or OBSI. Even if the bank has not issued a final decision, consumers may request an independent OBSI review once 56 days have passed since the bank received the complaint.
OBSI is Canada’s single external complaint-handling organization for the banking sector. It provides free and independent reviews of eligible bank complaints and may recommend a resolution. The Financial Consumer Agency of Canada oversees whether banks comply with complaint-handling requirements, but it does not replace the bank or OBSI in deciding individual refunds or compensation.
When filing a complaint, consumers should keep the bank’s written acknowledgement, case number, correspondence and relevant transaction records. They should clearly state the dates and amounts involved, the steps already taken and the outcome they are seeking. The complaint date shown in the bank’s written confirmation will be important when calculating the 56-day period.（LJI by Yuanyuan）
