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Financial Ombudsman attends the Treasury Select Committee meeting

Link(s):Financial Ombudsman at Treasury Select Committee meeting (financial-ombudsman.org.uk)

Context

The FOS attended sessions with the Treasury Select Committee to answer questions about its work.

Key points to note

The FOS was asked about its timescales, complaints backlog and quality assurance work. It outlined some of the steps taken to change and improve and the progress it has made. It is recognised there is still more work to do to improve the service provided by the FOS.

The FOS highlighted the ways it works with other organisations such as consumer groups, charities, industry trade bodies and other stakeholders, to share its experience in resolving complaints and gain insight into new and emerging issues.

The FOS also discussed cases it has seen in motor insurance, authorised push payment scams, pre-paid funeral plans and complaints from small businesses as well as how it supports vulnerable customers.

You can watch the full Treasury Select Committee session on the Parliament TV website.

Next actions

None – for information and awareness.