Financial Ombudsman Service publishes a Discussion Paper on its future funding model
14 June 2022
The Financial Ombudsman Service has today published a Discussion Paper on possible changes to its future funding model.
We are aware that Instant Cash Loans (“ICL”) entered a scheme of arrangement with its creditors (which includes customers and former customers of The Money Shop, Payday Express, Payday UK and Ladder Loans) before it looks to close down the company.
We are aware that Instant Cash Loans (“ICL”) entered into a scheme of arrangement on 9 October 2019 before it looks to close down the company.
Where there is a creditor and court-approved scheme like this one, customers with complaints will be able to make a claim for redress directly through the scheme.
In these circumstances it would not appropriate for us to consider covered complaints against ICL. The exception to this is complaints about pawn-broking, which we understand aren’t affected by the scheme. All other complaints should be referred directly to ICL.
You can find more information on ICL’s website.
14 June 2022
The Financial Ombudsman Service has today published a Discussion Paper on possible changes to its future funding model.
8 June 2022
Following an extensive recruitment process that attracted a highly qualified and diverse range of applicants, the Financial Ombudsman Service have appointed Abby Thomas to the role of Chief Executive and Chief Ombudsman.
31 May 2022
Welcome to the latest edition of Ombudsman News. In this edition we share our strategic measures update which outlines our performance in 2021/22 and the results from our temporary outcome codes initiative. We also highlight our online resource about our approach to vehicle breakdown cover complaints.