Why banking services complaints are rising

The new reason people hate banks

Mortgage grievances factor large

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An ongoing trend of the past two years shows that investment-related complaints are decreasing while banking-services gripes have surged, according to the Ombudsman for Banking Services and Investments. Eliminating the backlog of cases amassed after the financial crisis explains the drop in investment beefs. As for the increased sounding off about banking services complaints, mortgage grievances factor large—namely, prepayment penalties and cases where the bank refused portability. Always read your mortgage terms carefully.

Source: OBSI 2015 Annual Report

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