When Banks don't Act on FOS Findings

Cotta

IanManc wrote: »

Maybe TSB are now trying to back out of the "deal" that the adjudicator previously thought they had agreed?

This saga is beyond parody.

That crossed my mind too and the adjudicator has said it is not her role to negotiate a settlement between the TSB and myself.
I have said that before I can make a final decision I will need the final package to be clearly outlined to me as the moment TSB are struggling on the interest amount to pay.

pmduk

Have you attempted to work out the interest amount due yourself? It might save a couple of months (at least).

Cotta

pmduk wrote: »

Have you attempted to work out the interest amount due yourself? It might save a couple of months (at least).

Roughly £56. But there is a lot of silliness going on e.g. should I get interest on interest? Even though that would push me over the £1500 cap? Also the adjudicator is now not sure if the amounts over £1500 should be taken into account or dismissed and rolled up into the £500 compensation.

Silver_Queen

If I were you, I would just let her escalate it to the ombudsman in hopes that you'll get someone who's actually competent. At least that way it'll be dealt with once and for all. For me, that would be worth the risk of a potentially smaller payout.

masonic

Cotta wrote: »

That crossed my mind too and the adjudicator has said it is not her role to negotiate a settlement between the TSB and myself.

Her role is to reach a decision and let either party decide whether to accept it or refer it upward..

Ask her to issue her decision (as stated to you) and give TSB the opportunity to refer it to an Ombudsman, if they don't agree with it. If TSB wants to risk this debacle entering the public domain, more fool them! It would be better for your case if it was not escalated at your request.

pmduk

masonic wrote: »

Ask her to issue her decision (as stated to you) and give TSB the opportunity to refer it to an Ombudsman, if they don't agree with it. If TSB wants to risk this debacle entering the public domain, more fool them! It would be better for your case if it was not escalated at your request.

I think this is the ideal solution. Has the adjudicator ever worked for TSB? I've had the impression at times she must be on secondment from them.

Cotta

A final response from FOS so I now have to wait which is fine.


Back to my very first question, what is the actual procedure if an Ombudman makes a decision and the bank is to act within three weeks and they do not?


Dear Mr. Cotta,

As per your instruction on Monday I have instructed TSB to pay £500 compensation and a suitable level of interest. You will now need to be patient and await its arrival.

Your complaint has now been closed off.


Regards
FOS

eskbanker

Cotta wrote: »

Back to my very first question, what is the actual procedure if an Ombudman makes a decision and the bank is to act within three weeks and they do not?

Masonic answered this at post #10 - back then the matter was of course still with an adjudicator, whereas the more formal status of ombudsman decision is harder for even TSB to ignore....

Cotta

eskbanker wrote: »

Masonic answered this at post #10 - back then the matter was of course still with an adjudicator, whereas the more formal status of ombudsman decision is harder for even TSB to ignore....

Just reading back now. Yes I agree that an Ombudsman decision would perhaps have been the way to go. So if this had went to Ombudsman at stage I and TSB ignored their ruling after three weeks I could have still have requested additional Compensation or a court ruling?

IanManc wrote: »

"You will now need to be patient" is incredibly patronising.

I don't think the complaint should have been "closed off" until you confirmed that you had received the money.

Yes agreed but I think if they don't pay I can reopen the case.

eskbanker

Cotta wrote: »

Just reading back now. Yes I agree that an Ombudsman decision would perhaps have been the way to go. So if this had went to Ombudsman at stage I and TSB ignored their ruling after three weeks I could have still have requested additional Compensation or a court ruling?

I wasn't actually saying that escalation to an ombudsman at that stage would have appropriate, although with hindsight perhaps it would have been a more obvious move given what subsequently became clear about the intransigence of both TSB and the adjudicator.

I can't see much point in hypothesising about what might have happened then, but looking forwards, let's see (a) whether TSB object to the adjudicator's final decision, (b) what the ombudsman decides if they do, and finally (c) how TSB reacts to that....