The Office of the Australian Information Commissioner (OAIC) has approved FOS and COSL to handle privacy and credit reporting complaints under the Privacy Act from 12 March 2014.

Financial services providers who are already members of FOS or COSL, will not need to join an additional EDR scheme in order to continue to disclose credit information to a credit reporting body or to access such information.

If a person is dissatisfied with the decision of a credit reporting body or a credit provider about their complaint, or about the outcome of an access or correction request, they may complain to a recognised EDR scheme of which the credit reporting body or credit provider is a member.