Time for Virgin to Complete a Section 75 Claim

eskbanker

The 8 weeks you mention is more likely the timescales for complaints about the bank, which a S75 claim isnt itself a complaint, but even there you are a little out… the 8 weeks isnt when they must have provided a final response by but instead is when you get the right to go to the FOS even if the bank hasn't yet given you a final response.

The FCA does mandate that within eight weeks, if the institution hasn't issued a final response to a complaint by then, they must provide "a written response which explains why it is not in a position to make a final response and indicates when it expects to be able to provide one", so even if it's not a strict resolution deadline, it does entail making some sort of timescale commitment as well as the right to escalate to FOS.