United Kingdom (and EU regulation)

FOS ombudsman news issue 118

The Financial Ombudsman Service (FOS) has published issue 118 of ombudsman news. Items of interest include:

further case studies and Q&As that focus on complaints relating to payment protection insurance (PPI). They illustrate the FOS’s approach to complaints about mortgage PPI, comparative (or alternative) redress and the set-off of PPI compensation; and
complaints data for Q1 2014/15 financial year, showing the number of complaints received by the FOS and the proportion that were decided in favour of consumers during the period. The number of complaints overall are 50% higher than in 2012, although fewer than those received in the same period last year. 67% of new complaints were about PPI (down from 83% for the equivalent period last year).