MSE News

Financial Ombudsman Service

Steep rise in payday loan claims – but 1,000s are being stung by unnecessary fees

The number of complaints against payday loan firms soared by 130% in the past year, new figures from the the financial watchdog show. But the majority of claimants are using claims management firms, meaning they won't get the full compensation payout if successful.

16 May 2019

New rules for claims management firms from today

Unhappy customers who have used claims management firms will be able to escalate their complaints to the financial ombudsman from today, as the sector will now be regulated by the Financial Conduct Authority

1 April 2019

Almost 90% of TSB complaints upheld by ombudsman

Around nine out of 10 TSB customers who complained about the bank to the Financial Ombudsman Service won their case, figures released today reveal

13 March 2019

Compensation limit for financial complaints to increase to £350k

Consumers can be awarded up to £350,000 in compensation when they complain to the financial watchdog from next month

8 March 2019

Claims management firms will have to give more info upfront

The financial regulator has published a new set of rules for claims management companies, including providing customers with more transparent fee information and telling them about free alternatives

18 December 2018

Scammers are posing as the Financial Ombudsman, watchdog warns

Scammers are calling consumers pretending to be the Financial Ombudsman Service to collect personal information

26 June 2018

Overpaid your First Direct mortgage? Check your credit report now

First Direct has agreed to change the way it reports mortgage overpayments to credit reference agencies

4 June 2018

Complaints about high-cost credit reach highest-ever level

The number of complaints about high-cost credit has reached its highest level on record, according to new figures

30 May 2018

MSE tells MPs of need for urgent reform to ombudsman ‘farce’

MoneySavingExpert.com is calling on the Government to overhaul the 'farcical' ombudsmen complaints route

1 November 2017

Slow-down in PPI decisions due to Plevin

A new PPI ruling which means millions more may be able to claim mis-selling compensation is causing a backlog

15 August 2017

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