Finance Ombudsman Service (FOS)
Approved Car Loans is a member of the Finance Ombudsman Service.
The Financial Ombudsman Service fairly and independently resolves disputes between consumers — including some small businesses — and member financial services providers. Membership of the Financial Ombudsman Service is open to any financial services provider carrying on business in Australia.
The Financial Ombudsman Service is governed by an independent board of consumer representatives and financial services industry representatives. The role of the Board is to monitor the performance of the Financial Ombudsman Service, provide direction to the Ombudsman on policy matters, set the budget and review from time to time, the Terms of Reference including the jurisdictional limits of the Ombudsman. The Board does not get involved in the detail of cases which come before the Ombudsman as that would prejudice the independence of the Ombudsman. The decisions of the Ombudsman are independent of any interference from the Board. For more information please visit the FOS website at www.fos.org.au
Finance Brokers Association of Australia (FBAA) Accredited Member
Approved Car Loans is an Accredited Member of the FBAA.
The FBAA is Australia's leading membership body for finance broking professionals, providing standards and guidelines to promote professional practice standards in sourcing domestic and commercial funding in the finance/mortgage broking
Membership of the FBAA requires the applicant to meet strict criteria, including:
- abiding by the FBAA's Code of Conduct,
- utilising an approved External Dispute Resolution Service,
- providing compliance training to staff,
- holding Professional Indemnity Insurance, and,
- meeting educational and/or experience criteria, and,
- meeting probity criteria.
These requirements help to ensure members are professional organisations, and provide peace of mind for customers.
For more information please visit the FBAA website at www.fbaa.com.au