The Financial Services Ombudsman has gone to the dogs, when it comes to service and turnaround times

I have been in this process for nearly six years shocking system. Will have to wait another two years for final decision. The most inefficient service I have seen. Favours the banks.
 
It absolutely is favouring the banks, it's independency is now questionable.
The banks can pretty much ditch their customer complaints process entirely and rely solely on the ombudsman /courts no matter what wrong they commit.

The Ombudsman needs to get tough where there is an obvious breach that the provider has itself failed to rectify.
 
You are confusing different things.

I believe that the Ombudsman is in breach of the legislation which says he must handle complaints expeditiously. Taking 4 years and more to handle complaints does not meet the requirements of the Act.

But to suggest that he is not independent is nonsense. He is completely independent.

The banks sort out most complaints long before the customer needs to complain to the Ombudsman.
The mediation process sorts out most of the actual complaints made.

So what is left is a handful of genuine complaints in amongst all the baseless complaints. And the Ombudsman correctly rejects 95% of these.
 
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