The Financial Consumer Agency of Canada has new rules for banks to handle consumer complaints. Banks must solve or close complaints within 56 days.

Banks cannot stop the 56-day period.

The Agency wants banks to clearly tell consumers when they have given their final answer to a complaint.

Banks must give consumers a notice when they make a final decision on a complaint. Consumers can then take their complaint to an outside body.

Banks must have a plan to fix problems quickly. They must also help consumers who have been harmed.

The Bank Act says banks must follow certain steps to handle complaints.

Banks must not use confusing language. They must also keep a record of their complaint process and tell consumers when they get a complaint.

Get the facts straight.

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