Financial Ombudsman - a recommendation

[flash]

It's in the post

[stevied]

Email sent - synopsis - ombudsman is toothless and government cow tows to the banks. To think I could have been interviewed by Sky News this week too!!

[rascal3103]

mine done

[danielking]

A reply from the FO, and my reply follows.

Dear Mr King
Thank you for your email.
I am afraid that there are some limitations to our powers. One of these is that we do not have a general "policing" function with regard to banks. We do not, for example, have power to order or recommend that a bank should limit its charges to a particular level or should exercise its discretion in levying charges in particular circumstances.
I note from your email that you are unhappy with the business practice of the bank and therefore you should refer to the industry regulators; Financial Services Authority (FSA.) They can be contacted on;
Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Tel: 0207 0661000
Fax: 0207 6761099
Web Site: http://www.fsa.gov.uk/
Yours sincerely
Kerry Scannell
Consumer Consultant
Financial Ombudsman Service
Tel- 0207 093 7034

My Reply:
Dear Ms. Scannell,

Many thanks for your reply. I will forward details to the Financial Services Authority.

I would, however, expect that some or all of the following areas are within your power:

Applying pressure to banks to follow legal procedures for administering charges.
Notifying banks operating under your sanction that their policies are unfair on the consumer.
Acting on complaints brought to you by consumers.

Nevertheless, I am grateful for the response, and will continue my course of action through Her Majesty's Court Service.

Yours Sincerely,

So it looks like a forwarded mail to the FSA is next!

[bill-k]

Well done, Danielking - wish I'd said that !!

[Alison82]

Hi folks, here is the response to from my email

Dear xxxxxxx

Thank you for your email.

I am afraid that there are some limitations to our powers. One of these is that
we do not have a general "policing" function with regard to banks. We do not,
for example, have power to order or recommend that a bank should limit its
charges to a particular level or should exercise its discretion in levying
charges in particular circumstances.

I note from your email that you are unhappy with the business practice of the
bank and therefore you should refer to the industry regulators; Financial
Services Authority (FSA.) They can be contacted on;

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Tel: 0207 0661000
Fax: 0207 6761099

Web Site: FSA

Yours sincerely

Leigh Williams
Consumer Consultant
Financial Ombudsman Service
Tel- 0207 093 7016
Fax- 0207 093 7017

[danielking]

How disappointing/predictable - a standard response....

[morkandmindy]

Have just sent e-mail to financial ombudsman. Am in the process of working on letters to Lloyds TSB for both business and personal accounts

[HSBCrusher]

Just sent off my email, hopefully they will start getting the point....
eventually....

[un1boy]

Originally Posted by HSBCrusher

Just sent off my email, hopefully they will start getting the point....
eventually....

I dunno, mate, you'd hope, eh?

I've written a letter to my MP about all this and he's sent it to the state secretary for the department of trade and industry. If we all lobby our MP's they might start getting the picture!!

I have a thread with it all in, if you want to have the link, let me know!!

[strebor]

Seems to me that the FO and OFT are both a waste of time. Whilst continuing to attack the banks directly, I would suggest as many letters to MPs as possible. AND, someone on this site must be able to get some media exposure. Get 'consumer action group' on the news or Watchdog and I think we will start to see some results.

[un1boy]

Originally Posted by strebor

Seems to me that the FO and OFT are both a waste of time. Whilst continuing to attack the banks directly, I would suggest as many letters to MPs as possible. AND, someone on this site must be able to get some media exposure. Get 'consumer action group' on the news or Watchdog and I think we will start to see some results.

Well, I've emailed Watchdog today - if more people do then the researchers will have to take notice:

Try this:
BBC - Consumer - TV and radio - TV and radio

and I've written to my MP who has referred my letter on to the state secretary for the department of tradee and industry, so it will be interesting to see what their reply is.

[strebor]

Thanks for the link - I've just emailed them too.

[un1boy]

Originally Posted by strebor

Thanks for the link - I've just emailed them too.

No probs!

[phatram]

Lets not forget Mr Blair and his cronies.
We the undersigned petition the Prime Minister to Force the banks to repay unlawful bank charges and remove the six year time bar, forcing them to pay back everything from at least 1980.

[Battleaxe]

Emailed Watchdog, let's see what happens

[alanfromderby]

Also emailed Watchdog this evening, and in the process of putting together a detailed complaint to the FO.