Tag: Financial Ombudsman Service

PPI complaints soar

PPI complaints soar

The Financial Ombudsman Service (FOS) received 1,500 complaints about Payment Protection Insurance (PPI) mis-selling per day, in the first six months of 2012 The number of PPI complaints received by the ombudsman grew by 42 per cent to 85,562 in the first half of the year, despite banks promising to deal with compensation claims promptly. […]

September 11, 2012 More
Financial Ombudsman receives 10% more credit card complaints

Financial Ombudsman receives 10% more credit card complaints

There was a 10 per cent increase in the number of complaints made to the Financial Ombudsman Service (FOS) about credit cards last year. A total of 19,183 complaints were made in the year to April 2012, the highest number since records began in 2001, with the majority relating to claims for refunds for unsuitable […]

May 3, 2012 More
Halifax life-long policy misled pet insurance customers

Halifax life-long policy misled pet insurance customers

The Halifax has been found by the Financial Ombudsman Service to have misled customers by offering life-long pet insurance. Halifax, which is part of Lloyds Banking Group, announced its decision to withdraw from the pet insurance market at the end of last year. The Ombudsman’s ruling follows a complaint by the owners of a dog […]

March 28, 2012 More
Regulator receives most complaints about Barclays

Regulator receives most complaints about Barclays

The Financial Ombudsman Service (FOS) received more complaints about Barclays than any other single UK bank in the second half of 2011, but Lloyds topped the list of most complained about banking groups. The FOS received a total of 11,524 complaints about Barclays between 1 July and 31 December – 6,975 were about the mis-selling […]

February 29, 2012 More
PPI complaints soar

PPI complaints soar

Complaints to the Financial Ombudsman Service (FOS) from consumers who were mis-sold payment protection insurance (PPI), increased by 57 per cent to 30,301 between October and December 2010, compared with the previous three months. PPI complaints now make up 54% of the FOS’s workload. The FOS, which only deals with PPI complaints that financial firms […]

January 18, 2012 More
Financial complaints rise in second half

Financial complaints rise in second half

The Financial Ombudsman Service (FOS) has today said complaints rose in the second half 2010. According to the FOS, it received 97,237 new complaints between 1 July and 31 December – a rise of 15% compared with the first half of 2010. This list only covers those complaints which required mediation. Lloyds Banking Group, which […]

February 28, 2011 More
Financial complaints to FOS rise in first half

Financial complaints to FOS rise in first half

The Financial Ombudsman Service (FOS) has today said complaints rose in the first half of 2010. According to the FOS, it received 84,212 new complaints between 1 January and 30 June 2010 – with more than half of these about the top five banks. Lloyds Banking Group, which is 43% owned by the taxpayer, was […]

September 14, 2010 More
FOS sees rise in PPI complaints

FOS sees rise in PPI complaints

The Financial Ombudsman Service (FOS) said it dealt with a total of 925,095 queries from consumers in the last financial year – a 46% increase on the previous financial year. However, it said it resolved a record number of disputes (166,321) and in 50% of these cases, consumers were awarded compensation. It did highlight, though, […]

May 19, 2010 More
FSA examines complaint handling at RBS

FSA examines complaint handling at RBS

The Financial Services Authority (FSA) is to investigate the way Royal Bank of Scotland (RBS) deals with customers’ complaints. The City Watchdog is to examine “certain aspects” of the way the bank deals with complaints but the bank has said it would fully co-operate. A spokeswoman for the FSA said: “We are looking at all […]

February 25, 2010 More
Ombudsman complaints continue to rise

Ombudsman complaints continue to rise

In its second six-monthly set of complaints data relating to individual financial firms, the Financial Ombudsman Service (FOS) has today said complaints rose by 18% in the second half of 2009. According to the FOS, it received 82,136 complaints between 1 July and 31 December 2009 – a rise of 12,295 compared with the first […]

More than half of complaints are at top five banks

More than half of complaints are at top five banks

The top five High Street banks accounted for 59% of all complaints received in the first half of this year, according to the Financial Ombudsman Service (FOS). The top five banks are: Lloyds Banking Group, Barclays, Royal Bank of Scotland, Abbey and HSBC. The FOS said it would name and shame the banks and force […]

September 15, 2009 More
Financial complaints handling is ‘dismal’ say FOS

Financial complaints handling is ‘dismal’ say FOS

The Financial Ombudsman Service (FOS) has claimed that an increasing amount of consumers are receiving ‘dismal’ treatment when they complain to financial services institutions. Chief Ombudsman, Walter Merricks, said: “Some in the financial services industry – currently facing significant business challenges – appear to be taking the jaundiced view that having a large number of […]

April 7, 2009 More
Mortgage mis-selling case could impact on repossession

Mortgage mis-selling case could impact on repossession

The Guardian has reported on a case in which the Financial Ombudsman Service (FOS) has ruled that a previous homeowner, whose property has been repossessed by their lender, was mis-sold their mortgage in the first place. According to the newspaper, the ruling could set a precedent that would prevent repossession where it can be shown […]

March 25, 2009 More