The Financial Ombudsman Service (FOS) has published a consultation concerning its plans and budget for the 2015/2016 financial year. The FOS also sets out its emerging plans for 2015/2016 against that background.
The FOS notes that it has continued to receive very high volumes of new payment protection insurance (PPI) complaints. Whilst it has seen a decline from a peak of 12,000 cases each week in late 2012 it is still dealing with approximately 4,000 cases a week which is twice as many as all other areas of complaint put together. The FOS states that it expects to still be dealing with the fallout of PPI for several more years.
View Financial ombudsman consults on plans and budget for the year ahead, 6 January 2015