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FOS Appoints Independent Reviewer

FOS to Hire Independent Reviewer In Wake Of Channel 4 Investigation.

The Financial Ombudsman Service is to appoint an independent reviewer to consider issues raised in the recently broadcast Channel 4 Dispatches Investigation, the body’s chief executive Caroline Wayman has revealed.

In response to a letter from Nicky Morgan MP, Wayman said FOS had appointed an independent reviewer so it could better understand and address the concerns raised by the Reports programme.

Chair of the Treasury Committee, Rt Hon Nicky Morgan MP, wrote to Wayman in response to her letter Expecting the release of the documentary. In this first letter, … Read more

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The Ombudsman – Who Do They Work For? The Customer or the Bank?

The Financial Ombudsman Service (“FOS”) is directed to investigate when customers have unresolved complaints against financial institutions. Channel 4’s Dispatches went undercover to investigate accusations that complaints had been handled by officials with inadequate training and that banks had been wrongly favoured over customers.

Dispatches sent an undercover reporter to work as a trainee investigator at the service and some of their discoveries were truly shocking.

Some of the allegations include:

  • Using Google to find out how financial products work.
  • Staff being poorly trained, some with little or no knowledge of how to work a case file.
  • Some staff not
… Read more
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