Don’t get caught out by financial pitfalls
26 January 2026
As students return to university after Christmas, we are urging them to be aware of financial pitfalls and make informed choices.
Earlier this year our non-executive board commissioned an independent review of our service to look at where we might be able to do things better.
A respected consumer rights champion, Richard Lloyd, was asked to carry out the review. In the months since his appointment, he has spent time talking to our people, our customers and our stakeholders, and he has shared his findings and recommendations with our service in a report (PDF 559KB).
Chief ombudsman and chief executive Caroline Wayman has welcomed the report, saying:
We’re grateful to Richard Lloyd for conducting such a thorough review. We’ll be considering carefully what it means for our service, keen to learn from the past so we can do things even better in the future. We will publish an update on our progress by the end of the year.
Latest news
Financial Ombudsman Service sets out ambitious targets for resolving cases in 2026/27
13 January 2026
We have proposed ambitious targets for the next financial year, and would like to remind stakeholders that our consultation closes on 21 January 2026.
New interest rate now applies to compensation awards
2 January 2026
A new interest rate applies to the compensation we direct financial businesses to make for cases referred to our service on and after 1 January 2026.