At LCollect we believe that knowledge is power. Every month our debt collection blog gives you practical tips, stories and news from around Australia and the world.
This month the Financial Ombudsman Service (FOS) has released an information sheet that outlines how the new External Dispute Resolution (EDR) scheme will be implemented over the coming months.
If you recall from our previous article, the Australian Financial Complaints Authority (AFCA) will operate from Thursday, 1 November 2018 and will replace FOS, CIO and the SCT so consumers have access to only 1 scheme for future disputes. The latest release from FOS provides more details regarding the transition including an announcement of the new AFCA Board and key dates to remember.
You can read the release on the FOS website.