The last 10 years have seen a growth in the number and size of industry-based consumer dispute resolution schemes in Australia. This is particularly so in the areas of financial services and telecommunications. Most Australians would be familiar with the Australian Banking Industry Ombudsman (ABIO) (now the Banking and Financial Services Ombudsman (BFSO)) by name, although not so many would be aware that similar schemes now exist for credit unions, building societies, insurance companies, financial planners and advisers, insurance brokers, managed investments schemes and the time-share industry.
"The Lion’s question applied to industry-based consumer dispute resolution schemes,"
ADR Bulletin: Vol. 8
, Article 2.
Available at: https://epublications.bond.edu.au/adr/vol8/iss5/2