Finance News – Fos
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FCA names interim FOS chair after abrupt leadership shake-up
The appointment of Liam Coleman as interim chair of the Financial Ombudsman Service aims to stabilize the organization amid leadership changes, which may impact regulatory oversigh...
Read Full Article →Senior MPs condemn banks quango chair over dodging questions
The leadership dispute within the Financial Ombudsman Service highlights concerns about accountability in an organization crucial for resolving financial disputes between consumers...
Read Full Article →Exclusive: Lloyds and Barclays bleed millions in complaint fees
Several major UK banks, including Lloyds and Barclays, collectively contributed nearly £39 million in administrative charges to the Financial Ombudsman Service over the past financ...
Read Full Article →Motor finance drags FOS complaints to highest since PPI scandal
The rise in complaints related to motor finance significantly contributed to a substantial increase in overall cases handled by the Financial Ombudsman Service, reaching levels not...
Read Full Article →City minister opens door to weakening banks ombudsman
The potential reduction of authority for the Financial Ombudsman Service may impact how consumer disputes are resolved, influencing the regulatory environment and operational risks...
Read Full Article →Revolut, Monzo and Wise: The UK fintechs slapped with the most complaints
Recent statistics indicate that several leading UK financial technology companies have experienced a notable volume of customer grievances, highlighting challenges they face as the...
Read Full Article →Banking complaints rocket amid motor finance backlash
The sharp increase in customer grievances during late 2024 highlights growing challenges within financial services, potentially impacting consumer trust and prompting closer regula...
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