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
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