Britain’s Financial Conduct Authority (FCA) has said the Financial Ombudsman Service, which handles complaints from financial companies and customers, will be able to raise fine amounts and in turn allow for more compensation to customers and businesses, according to reports. “Consumers and small businesses struggle...
Britain’s Financial Ombudsman Service (FOS) has been ordered to prove that the organization has thoroughly investigated customer complaints against banks. FOS handles complaints that customers couldn’t resolve directly with banks and other financial firms. According to Reuters, on average, it upholds about half of all...
December 21, 2023
Payment service providers are reportedly unlikely to challenge the claims that victims of authorized push payment (APP) fraud make under a soon-to-be-implemented rule in the United Kingdom. Investigating a case and then challenging it before the Financial Ombudsman Service (FOS) would be too expensive in terms of time and resources, the Financial Times (FT) reported […]
March 08, 2019
Britain’s Financial Conduct Authority (FCA) has said the Financial Ombudsman Service, which handles complaints from financial companies and customers, will be able to raise fine amounts and in turn allow...
March 14, 2018
Britain’s Financial Ombudsman Service (FOS) has been ordered to prove that the organization has thoroughly investigated customer complaints against banks. FOS handles complaints that customers couldn’t resolve directly with banks...
