When Banks don't Act on FOS Findings

eskbanker

Cotta wrote: »

To complicate matters further, FOS went on to advise that I should be paid the missed interest, this I feel is now completely lost.

The ombudsman will have access to the full trail of emails, calls, internal/external discussions and correspondence, file notes, etc, and you'll get the opportunity to make your case to him/her that all such matters should be factored into the final decision....

DoaM

I was hoping that (having read the whole thread this morning) that we'd have reached a conclusion by now.

eskbanker

Hadn't spotted this when published yesterday:

https://www.moneysavingexpert.com/news/2019/03/ombudsman-upholds-89--of-tsb-customer-complaints/:

Around nine out of 10 TSB customers who complained about the bank to the Financial Ombudsman Service won their case, figures released today reveal.

There were 5,764 TSB complaints escalated to the Financial Ombudsman Service (FOS) between 1 July and 31 December last year, according to FOS's latest complaints data. This is more than six times the number received over the same period in 2017, when 855 complaints were made.

FOS resolved 5,226 TSB complaints during the same period, and upheld the consumer's complaint in 89% of these cases. TSB customers were more than three times as likely to be successful in their complaint than those complaining about other businesses, where FOS sided with the consumer in an average of 28% of cases.

So TSB have been keeping their 'colleagues' busy but should be more than familiar with losing the arguments by now....

masonic

It would be interesting to see how many of those complaints had to go to an Ombudsman for a final decision. I'll wager not many.

It's also worth remembering some (if not most) people went to the FOS because they were waiting too long for TSB to deal with their complaint, rather than having their complaint rejected by TSB.

eskbanker

masonic wrote: »

It would be interesting to see how many of those complaints had to go to an Ombudsman for a final decision. I'll wager not many.

129, according to https://www.ombudsman-decisions.org.uk/, 55 upheld and (unsurprisingly!) 74 not upheld....

masonic

eskbanker wrote: »

129, according to https://www.ombudsman-decisions.org.uk/, 55 upheld and (unsurprisingly!) 74 not upheld....

I went through the first dozen and lo and behold, all of them the customer rejected the initial decision and wanted more compensation, one asking for over £3000. It will certainly be interesting to see how Cotta's case is written up.

eskbanker

masonic wrote: »

I went through the first dozen and lo and behold, all of them the customer rejected the initial decision and wanted more compensation, one asking for over £3000. It will certainly be interesting to see how Cotta's case is written up.

I've just been stepping through a sample too and find it noteworthy that I don't think I've seen a single one where the ombudsman either increases or reduces the original compensation amount put forward by the adjudicator....

Cotta

eskbanker wrote: »

I've just been stepping through a sample too and find it noteworthy that I don't think I've seen a single one where the ombudsman either increases or reduces the original compensation amount put forward by the adjudicator....

The Manager did previously advise that the Ombudsman's offer could be the same.

Bermonia

In theory one could argue that the adjudicator and the ombudsman should be ‘singing from the same song sheet’ in terms of redress payouts - obviously this is not always the case and the ombudsman is free to increase if they feel it is justified.

Cotta

Bermonia wrote: »

In theory one could argue that the adjudicator and the ombudsman should be ‘singing from the same song sheet’ in terms of redress payouts - obviously this is not always the case and the ombudsman is free to increase if they feel it is justified.

Completely true, however as the original amount awarded to me was in the adjudicator's words "the maximum allowance," it seems hard to comprehend how I could receive more. If I am being completely honest, I feel that the delay since December and the lack of a response from TSB to FOS recommendations should be taken into account, however the adjudicator has already advised that no further payments will be requested due to TSB's inaction.