Motor finance drags FOS complaints to highest since PPI scandal
5 Articles
5 Articles
UK Finance calls for Financial Ombudsman Service reform timetable – Mortgage Strategy
UK Finance has backed calls that the Financial Ombudsman Service should be stopped from acting as a “quasi-regulator” and insists on a timetable of reform for the body. The move comes in the banking body’s submission to the government ahead of the Chancellor Rachel Reeves’ Mansion House speech later this month and
FOS annual complaints data and insight 2024/25
On 2 July 2025, the Financial Ombudsman Service (FOS) published its latest annual complaints data and insight. The FOS was set up by Parliament under the Financial Services and Markets Act 2000 (FSMA 2000) to resolve complaints between financial businesses and customers who have not been treated fairly, providing equitable remedies for consumers subject to the Financial Conduct Authority (FCA) award limits. The annual complaints data shows the v…
Motor finance commissions lead to record complaint figures - Credit Connect
Complaints to the Financial Ombudsman Service (FOS) have surged, with 305,726 recorded in the year to 31st March 2025. This is the highest total since the 388,392 seen in the year to March 2019, when the PPI scandal drove a spike in complaints. The latest increase comes amid the motor finance scandal, with the Supreme Court set to determine if banks unlawfully paid commissions to car dealers without customer consent later this year. Data shows t…
Motor finance drags FOS complaints to highest since PPI scandal
The motor finance row has dragged complaints to the Financial Ombudsman Service (FOS) to the highest level since the PPI scandal. Consumers lodged 305,726 complaints with the FOS in the year ending March 31 2025, which edged towards highs of 388,392 in year ending March 2019. Complaints regarding motor finance led the spike at 73,328. This was a staggering near-500 per cent jump from 12,604 the previous period. The Supreme Court is expected to g…
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