Australia's Credit Ombudsman Service, or COSL, is an industry ombudsman established in 2003 as a result of the Mortgage & Finance Association of Australia ('MFAA') self-regulation and the then increasing interest in non-bank lending. The Credit Ombudsman Service is the largest External Dispute Resolution (EDR) scheme in Australia by its number of members, totaling over 10,000 . It aims to help settle disputes between consumers and Australian-based businesses providing financial and credit services which include:
- Credit providers
- Credit representatives
- Fund managers
- Credit unions
- Building societies
- Leasing companies
- Micro-lenders
- mortgage brokers
- non-bank lenders
- mortgage managers
- mortgage originators
- aggregators
- wholesale funders
- securitisation trustees
- housing co-operatives
- mortgage insurers
- finance brokers
Read more about Credit Ombudsman Service: History, Complaints Process, See Also
Famous quotes containing the words credit and/or service:
“Gratitude among friends is like credit among tradesmen: it keeps business up, and maintains commerce. And we pay not because it is just to discharge our debts, but that we might the more easily find lenders on another occasion.”
—François, Duc De La Rochefoucauld (16131680)
“The master class seldom lose a chance to insult a woman who has the ability for something besides service to his lordship.”
—Caroline Nichols Churchill (1833?)