Abolish the Financial Ombudsman Service (FOS).

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Petition Action

Abolish the Financial Ombudsman Service (FOS).

Additional Information

In a claim in which a trangression was admitted by a bank the claimant was referred to the FOS who refused to investigate it, even though the FOS agreed the existence of the wrongdoing. The claim was associated with the PPI scam already publicly discredited. As the service responsible for returning the claimant to the position they would have been in had the issue not taken place this is unacceptable behaviour by FOS. The FOS has provided grounds to suspect it works hand in glove with the financial institutions that do the referrals, and is not as impartial as it would have us believe. The FOS is a puppet, it is the preferred choice for referral by untrustworthy banks,etc. The FOS is a confidence trick being played on unsuspecting claimants. It should abolished and replaced with a service directly responsible to HMG.

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