The Financial Ombudsman (FOS) has published Issue 129 of Ombudsman News. This edition includes information on:
- Second quarter complaints statistics which show:
- During July, August and September 2015, FOS handled 141,622 enquiries from consumers, taking on 85,896 new cases, with 9,715 complaints passed to an Ombudsman as the final stage of their complaints handling process.
- PPI remained the most complained about financial product, with 49,672 new cases in the second quarter. Packaged bank accounts were the second most complained about product.
- The proportion of complaints the FOS upheld in favour of consumers was 51%, ranging from 3% (for complaints about SERPs, State Earnings-Related Pension Schemes) to 72% (for complaints about PPI).
- How the FOS investigates and deals with claims brought under section 75 of the Consumer Credit Act in respect of credit and hire purchase.