Appearance before the Standing Committee on Finance (July 7, 2020): Consumer complaints and enquiries

Issue

FCAC’s Consumer Services Center (CSC) answers questions and records complaints from Canadians.

Background

The CSC is open Monday to Friday from 8:30 a.m. until 5:00 p.m. EST. for telephone calls. Canadians can also submit a question or enquiry using the online form 24/7 on the FCAC webpage of the Government of Canada website.

Data/Quick facts

FCAC has noted a 28% increase in calls from Canadians during the period of March 15–June 22, 2020. FCAC received 4,794 contacts compared to the same period in 2019, when we had 3,749 contacts.

Only 13% of contacts to FCAC related to COVID-19 during this period, representing 619 contacts.

The main topics of contacts were:

• Canadians wanted to defer their car, mortgage, credit card and line of credit payments. (14% complaints/11% enquiries)
• Canadians had technical issues online and long wait time when calling to apply for CERB. (3% enquiries)
• Specific groups (seniors, student, disabled) asked if they would receive a benefit. (2% enquiries)
• Canadians were worried as they could not reach their regulated entities by telephone and wanted to know when they would be re-opening the branches as stores were re-opening. (7% complaints/1% enquiries)
• Banks refused to cash the CERB cheque since it was over the $1,500 threshold amount. (2% complaints/1% enquiries)
• Airlines and travel operators issued future travel vouchers instead of reimbursing the cost of the flight, vacation package. (3% complaints/0.5% enquiries)
• Canadians wanted to know if they qualified and how to reimburse the CERB payment. (6% complaints/16% enquiries) 

Note: In response to questions regarding the Canada Emergency Response Benefit (CERB) and benefit eligibility, the CSC referred consumers to CRA and ESDC, and to FCAC COVID-19 content.

Key messages

• Consumers who have a problem with their bank can contact FCAC. FCAC records the complaint and determines whether there is a breach of a law, code of conduct or public commitment.
• FCAC can provide consumers with unbiased, fact-based educational information to help them manage their money and make informed financial decisions.
• The information CSC records on complaints and enquiries enriches the Agency’s intelligence on consumer issues and trends, contributing to our proactive supervision of financial institutions and enabling us to refine and update our unbiased and fact-based educational information for consumers.