The Financial Ombudsman Service and the Credit and Investment Ombudsman have cautioned policymakers against making any decision about setting up a banking tribunal while a Government appointed panel is considering the future of the financial system's external dispute resolution system.In May the Assistant Treasurer appointed University of Melbourne professor of commercial law Ian Ramsay to chair a panel that will advise the Government on the role, powers and governance of EDR and complaints schemes. One possible outcome of the review is the integration of the Financial Ombudsman Service, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal to create a "one-stop shop".Since then there has been a push to establish a tribunal to deal with customer complaints against banks. According to media reports, the Government has given favourable consideration to this proposal as a way of heading off calls for a royal commission into banks.The Financial Ombudsman Service said in a statement: "The proposal for a banking tribunal falls squarely within the scope of the current government review of dispute resolution in the financial sector. "FOS has welcomed the appointment of the independent expert panel and its terms of reference. FOS strongly supports efforts to enhance fair, simple, accessible redress for consumers and small businesses in the financial sector."Importantly, we want to see less rather than more complexity for consumers in resolving financial disputes. We also want to avoid changes that could lead to a more costly, adversarial and legalist approach to dispute resolution."The Credit and Investment Ombudsman said Australia was already well served by the existing dispute resolution architecture in financial services."The types of disputes referred to in the current debate about the need for a new body generally involve amounts that exceed the monetary limits of CIO and FOS," it said."The more appropriate course would be to expand the jurisdictional limits and responsibilities of the existing schemes."