The Latest Breaking News from Financial Ombudsman Service

Financial ombudsman to charge claims management firms £250 to refer a case

The move aims to make funding arrangements fairer and encourage professional representatives to submit better-evidenced complaints, the service said.

Evening Standard · Feb 7, 2025

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 · Feb 6, 2025

Scams set to account for third of banking and loan cases in 2025-26 – ombudsman

The Financial Ombudsman Service said crimes can be complex and incredibly convincing, and no-one should be afraid to come forward.

Evening Standard · Jan 23, 2025

Rachel Reeves vows to rip up financial red tape and create pension ‘megafunds’ in first Mansion House speech

In her first Mansion House speech as Chancellor, Rachel Reeves announced plans for megafunds which she said could unlock £80 billion for investment

Evening Standard · Nov 14, 2024

Pension ‘megafunds’ will boost growth and reward British savers – Reeves

In her first Mansion House speech as Chancellor, Rachel Reeves announced plans for megafunds which she said could unlock £80 billion for investment.

The Independent UK · Nov 14, 2024

UK’s financial ombudsman ‘misleads consumers it is supposed to help’

University researchers have accused the service of overstating the number of cases it has upheld in favour of the people who complain to it

The Guardian - UK · Oct 28, 2024

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 · Oct 23, 2024

Car modification pitfalls can leave owners thousands out of pocket – ombudsman

Vehicle owners have been left to pay big sums because they have unknowingly invalidated their car insurance, the Financial Ombudsman Service warned.

The Independent UK · Sep 30, 2024

Fraud and scam complaints hit highest level recorded by ombudsman service

The Financial Ombudsman Service said it is receiving, plus resolving, a total of about 500 fraud and scam complaints per week typically.

The Independent UK · Sep 3, 2024

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 · Aug 28, 2024