Today, we’ve published our strategic plans and budget for the next financial year (PDF 2.5MB). This has been approved by the FCA.
We consulted on these plans back in December 2018, and 25 organisations responded. They included major banks, insurers, and industry and consumer groups.
Stakeholders generally welcomed our proposals about the immediate financial year and longer-term future, and said they recognised the challenges we were facing. Their feedback is summarised in the document.
We anticipate receiving 460,000 complaints, including 250,000 about PPI, and 50,000 about short-term lending. Overall, we’re planning to resolve more than half a million complaints.
With fluctuating demand for our service, and expansion of our remit to cover complaints from SMEs and about CMCs, we need to be flexible. It’s a year of big ambitions. But these strategic plans mean people can continue to have confidence we’ll be able to resolve the increasingly complex mix of problems people bring to us, now and in the future.
20 May 2022
PayPal (Europe) S.ar.l. et Cie, S.C.A (PayPal) is withdrawing from the Financial Ombudsman Service’s voluntary jurisdiction with effect from 1 December 2022. There will be an impact on the types of complaint we will be able to consider about PayPal.
13 April 2022
Today we’ve published data showing the number of complaints we received about individual businesses between 1 July and 31 December 2021.
31 March 2022
The FCA has today launched a consultation about redress and the British Steel Pension Scheme (BSPS). BSPS members do not need to wait for the outcome of the FCA consultation to complain, they can continue to get in touch with the Financial Ombudsman directly.