View more on these topics

FOS gears up to name firms over complaints

The Financial Ombudsman Service is gearing up to publish the names of firms involved in complaints when it begins the process of publishing final ombudsman decisions next month.

The Government first set out plans to require the FOS to publish final decisions as part of the draft Financial Services Bill, now the Financial Services Act 2012, although it did not address publishing firm names.

In a consultation on the plans in September 2011, the FOS said its view was it should not delete the name of the firm involved, but would not publish any information that would identify the consumer making the complaint.

Decisions naming the firm but not the consumer will be available on a searchable database on the FOS’ website, and will start appearing on the website in early summer.

The FOS says: “As part of the practical arrangements involved in publishing decisions, there will be a short delay between an ombudsman sending out their decision to the two parties in each case, and that decision being made available on our website. This is because we need to allow a short period for the two parties to respond, once they have received a decision.”


Andrew Baddeley Chappell

Economic Tracker: How much is FLS actually helping?

As the Bank of England reports, the aim of the Funding for Lending Scheme is to encourage more lending than would have been the case in the absence of the scheme. This includes encouraging banks that are planning to lend less to households to cut back less than would otherwise be the case. The Bank […]

HSBC 480

HSBC withdraws from interest-only too

HSBC has become the latest lender to withdraw interest-only mortgages, following in the footsteps of other high street lenders including Nationwide and Royal Bank of Scotland.


News and expert analysis straight to your inbox

Sign up