Ombudsman calls for more decisive action from FSA
One of the Financial Ombudsman Service’s (FOS) principal ombudsman, Tony Boorman, has questioned the benefits of a complaints-led strategy, calling for a more proactive approach from the regulator.
Speaking at the British Bankers' Association complaints-handling seminar, Mr Boorman said that the FOS had received more than 200,000 complaints about payment protection insurance (PPI).
"I hope that if we are ever again in a situation where things have gone seriously wrong, there will be a clear, prompt and open debate about whether a so-called 'complaints-led' strategy is the right response - or whether consumer 'information-asymmetries', costs, the sometimes baleful role of claims-management
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