FOS Decisions can be flawed

[pompeyfaith]

Greetings All,

Just reading through the FSA latest report on the selling of PPI released today which makes very interesting reading and came across a nice little snippet as below

iii) our reliance on FOS decisions is under-researched and flawed, as FOS
decisions themselves are flawed, both in the standards they apply and their
inconsistency over time.

So there you have it from the FSA mouth the FOS decisions can be flawed.

Anyone with a PPI complaint I strongly advise that you read the report below as it will go a long way in helping you get the just and fair outcome.

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

PF

[Angry Cat]

Re: FOS Decisions can be flawed

LOL, PF!

Will read the report but many have already come to the same conclusion, including admitted members of the law society...
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Printed off and filed!

[EXC]

Re: FOS Decisions can be flawed

Very interesting - thanks.

Oddly enough I know someone who told me yesterday that he has a second interview next week for the position of adjudicator at the FOS. They are having a recruitment drive specifically to handle PPI cases. I shall give him the nod.

[pompeyfaith]

Re: FOS Decisions can be flawed

I believe this is were they have gone wrong i have been told that new recruits only get two weeks training clearly not enough to handle complaints of a complex nature

[nelliewops]

Re: FOS Decisions can be flawed

Thanks for that PF - will have read later!

Like yourself as you know I have had my own fair share of problems with the FOS, so am not at all surprised...........

[LuggerBugs]

Re: FOS Decisions can be flawed

PPI complaaint complex?

Nah. This is how it should go...

FOS: "Any PPI sold at Point of Sale?"
Cutomer: "Yep."
FOS: "Right, my decision is you get it all back, including interest paid, plus 8%, plus £500 cos the OC is a greedy bunch of feckers. NEXT."

Hmm. I think I'll apply for the job.

[pompeyfaith]

Re: FOS Decisions can be flawed

we can all dream lol what i ment by complex is multi policies which are paid early and another taken out to cover new funding

[Angry Cat]

Re: FOS Decisions can be flawed

I havn't dealt with the FOS for some time, as I came to the conclusion that they are incompetant;
many work on a part-time basis and often make huge mistakes...
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http://www.which.co.uk/news/2010/08/...l-short-223129

The measures don't go far enough however, and Which? is urging the government to enable the FSA to order firms to carry out PPI complaints review. Which? Chief Executive Peter Vicary-Smith said:
'For years, the industry has handled poorly thousands of PPI complaints so it's important that the FSA is able to force firms to review old cases.
'We want the Government to act swiftly and activate the FSA's power to force lenders to review rejected PPI cases so consumers whose complaints were wrongly dismissed can get the redress they are due.'

[pompeyfaith]

Re: FOS Decisions can be flawed

yup and in my case the bank made an offer but i refused it as it was on 8 policies and not the 9 i have had

I complained to the fos but they ignored this fact and twice sent me letters saying the banks offer was fair and inline with the fos so i made a complaint on this complaint as it became clear to me that it had not been investigated and they took the banks word as gospel

Anyway after 18 mths and the fos finally justly looking into it they phoned to say that the bank was prepared to redress all policies but that they wanted me to sign an fos acceptance form without me knowing what that offer is

So that is where we are now until i get that offer in writing from the bank im signing nothing

PF

[Angry Cat]

Re: FOS Decisions can be flawed

Kay Blair, vice chairman of the Financial Services Consumer Panel said: "Consumers deserve to get an early Christmas present from firms and not have to wait until the new 1 December deadline. The financial services industry has been dragging its feet over resolving PPI mis-selling and letting down customers by not handling their complaints fairly."

[pompeyfaith]

Re: FOS Decisions can be flawed

all good news, but as they say the proof will be in the pudding as i still have my doubts

Lets see what my latest letter brings

[EXC]

Re: FOS Decisions can be flawed

Greetings All,

Just reading through the FSA latest report on the selling of PPI released today which makes very interesting reading and came across a nice little snippet as below



So there you have it from the FSA mouth the FOS decisions can be flawed.

Anyone with a PPI complaint I strongly advise that you read the report below as it will go a long way in helping you get the just and fair outcome.

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

PF

The quote 'our reliance on FOS decisions is under-researched and flawed, as FOS decisions themselves are flawed, both in the standards they apply and their inconsistency over time.'' is actually an industry objection, and is not supported by the FSA. On the contrary, the FSA found the FOS decisions to be broadly in line with their own concerns over the operation of the PPI market. They just have to set out all the objections that they receive.

[di30]

Re: FOS Decisions can be flawed

Hiya EXC, did the person you know end up with a job with the FOS, or are they still waiting?