Be careful about the FSO's Dispute Resolution Service

Discussion in 'The Financial Services Ombudsman' started by Brendan Burgess, Jun 1, 2016.

  1. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    30,260
    This has just been brought to my attention by a complainant:

    upload_2016-6-1_14-8-57.png

    If someone makes a valid complaint that they lost their Bank of Ireland tracker and BoI forces them to complain to the FSO, why should they keep the terms of the settlement confidential?

    The banks already have a huge advantage over the complainant. One way of improving the balance a little bit, is for the complainants to publicise cases they win, so that others can take similar cases.

    Brendan
     
    MrEarl likes this.
  2. Raging Bull

    Raging Bull Frequent Poster

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    243
    They should be publishing cases all right but not consumers name

    Sensible idea will cut down on red tape
     
    MrEarl likes this.
  3. Gerry Canning

    Gerry Canning Frequent Poster

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    2,430
    If I am wrong on this comment please let me know.

    Dispute Resolution sounds good but I believe there is no compunction on either party to use it.
    In practice this means Banks do not go for Resolution , in effect stymie the good intention ,and worse turn, what should be {sensible idea to cut down on red tape} into another fluffy layer that creates more tape!

    Sounds good and fair but takes 2 to sort.