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The Latest Breaking News from Financial Ombudsman Service

New bill will downgrade the role of the Financial Ombudsman Service

Letter: Iain Ramsay draws attention to the enhancing financial services bill and the influence of finance industry lobbying in proposed reforms that could be affect consumers

The Guardian - UK

Ombudsman service is handling more than 60,000 motor finance commission cases

The number of cases represents ‘quite a significant block of work’ MPs on the Treasury Committee were told.

Evening Standard

Financial Ombudsman Service chief quits months after Reeves’ call for reform

Abby Thomas has stepped down following criticism over the ombudsman service’s role in the motor finance commission scandal.

The Independent UK

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Ombudsman highlights credit rule myths that could stop people getting a refund

The Financial Ombudsman Service has said several misunderstandings exist around how Section 75 of the Consumer Credit Act works.

Evening Standard

70% surge in complaints about financial products recorded by ombudsman

Credit cards were the most complained-about product between April and June, the Financial Ombudsman Service said.

The Independent UK

Jump in complex scam cases seen by Financial Ombudsman Service

Around half of fraud and scam complaints to the ombudsman in 2022/23 were about authorised push payment scams.

The Independent UK

Elderly couple's year-long nightmare after Covid rules forced them to abandon £1k holiday

Alan and Pearl Osborne had their bags packed and were ready to go when their plans were shattered

Wales Online

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‘Treated like a chump’: Wild Beer Co’s collapse leaves bitter taste for backers

Five years on from £1.76m crowdfunding, some feel misled after plans for destination venue unravelled along with the firm itself

The Guardian - UK

The lawless world of crypto scams

Fraudsters took advantage of the hype during the pandemic to prey on individuals — exposing a gaping hole in consumer protections

Financial Times

So many brick walls for couple who lost £100,000 pension savings to fraud

Couple feel let down by their bank, the financial watchdog and police after being targeted by clone bank scam

Daily Mirror

Cryptocurrency scam warning issued by ombudsman service

In current economic circumstances, people could be tempted to invest in fake investments, the Financial Ombudsman Service warned.

The Independent UK

Scammers took £20,000 of my wedding savings but Revolut won’t pay me back

I’m young and clued-up but even I was the victim of a sophisticated con – and now the bank says I can’t have a refund

The Guardian - UK

Ombudsman receiving complaints about falling insurance premiums as well as rises

Customers are continuing to report that changes to their premiums may be unfair, despite a fall in insurance pricing complaints overall.

The Independent UK

Backlog of consumer complaints being driven down, says financial ombudsman

Initiatives were put in place to address a big backlog of complaints received during Covid-19, the Financial Ombudsman Service said.

The Independent UK

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The Independent UK

Four-year wait to have some financial complaints dealt with by ombudsman

The Financial Ombudsman Service still has around 43,000 unallocated cases, the Treasury Committee heard.

People

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