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FOS wants law to be changed to allow Class Action complaints!!
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marshallka
Posts: 14,585 Forumite
31st May 2009
Consumers are being denied millions of pounds in compensation for mis-selling because they are being fobbed off by high-street banks — and the City regulator is failing to help them, a damning report revealed last week.
The Financial Ombudsman Service (FOS) called for the law to be changed to allow US-style class-action lawsuits to help customers get redress, as its annual report revealed that nearly 60% of complaints were going in favour of consumers, compared with a normal level of 30% to 40%.
http://www.timesonline.co.uk/tol/money/consumer_affairs/article6394865.ece
Aplogies if this was posted on here before.
Consumers are being denied millions of pounds in compensation for mis-selling because they are being fobbed off by high-street banks — and the City regulator is failing to help them, a damning report revealed last week.
The Financial Ombudsman Service (FOS) called for the law to be changed to allow US-style class-action lawsuits to help customers get redress, as its annual report revealed that nearly 60% of complaints were going in favour of consumers, compared with a normal level of 30% to 40%.
http://www.timesonline.co.uk/tol/money/consumer_affairs/article6394865.ece
Aplogies if this was posted on here before.
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