When Banks don't Act on FOS Findings

Cotta

She did say that what's been offered at the moment would be more of a baseline with the Ombudsman rubber stamping it ir recommending an increase. It is only in exceptional situations that an Ombudsman would indicate less.

I was advised that when TSB are aware of Ombudsman involvement they may come through with an offer.

pmduk

How many times did she refer to her colleagues at TSB?

Cotta

Those will be questions for the Manager after the Ombudsman has completed their investigation into TSB.

masonic

Cotta wrote: »

I was advised that when TSB are aware of Ombudsman involvement they may come through with an offer.

If TSB do come through with an offer, if you are willing to accept it, I'd still try to get the Ombudsman to make it his (or her) legally binding decision so that you don't end up asking for the case to be reopened some weeks later when it doesn't materialise.

Cotta

masonic wrote: »

If TSB do come through with an offer, if you are willing to accept it, I'd still try to get the Ombudsman to make it his (or her) legally binding decision so that you don't end up asking for the case to be reopened some weeks later when it doesn't materialise.

TSB are refuting that it's them that have sent this to the Ombudsman despite have failed to act on FOS recommendations from 18th December.

masonic

Cotta wrote: »

TSB are refuting that it's them that have sent this to the Ombudsman despite have failed to act on FOS recommendations from 18th December.

So they've paid you then yes? If not, then they've sent it to an Ombudsman by not complying with the decision.

Seems to me this case will form a valuable precedent for the FOS regarding what happens when a firm breaches its regulatory obligation to cooperate with the service.

pmduk

masonic wrote: »

So they've paid you then yes? If not, then they've sent it to an Ombudsman by not complying with the decision.

Seems to me this case will form a valuable precedent for the FOS regarding what happens when a firm breaches its regulatory obligation to cooperate with the service.

If, of course, they were ever told of the decision!

Cotta

pmduk wrote: »

If, of course, they were ever told of the decision!

The Manager has confirmed they were given three weeks.

masonic

pmduk wrote: »

If, of course, they were ever told of the decision!

The manager who has reviewed the case will know this, and spoke to TSB yesterday. It seems unlikely she would have advised Cotta to take it to an Ombudsman if TSB had not been told of the decision.

masonic

Cotta wrote: »

The Manager has confirmed they were given three weeks.

Has the manager confirmed whether the breach will be reported to the FCA?

It's clear the issues within customer services and compliance are long standing and showing no signs of going away. The FCA ought to step in and take enforcement action, such as preventing TSB from taking on any new customers until they have cleared the backlogs of complaints and demonstrated improved CS performance.