FOS pays compensation for showing “bias to the financial business” but only in 5 cases out of 448,387 !

An FOI request asked for information on how many people made complaints of bias in favour of financial institutions.   The FOS response advises that between April 2014 and March 2016, they handled 448,387 cases. There were 266 complaints that could be (sub) categorised as ” bias to the financial business”.  FOS recognised that in 21 of these cases “our standards fell below what was required”.  They offered compensation to the consumers in 5 of the cases.

So FOS Ombudsmen and Adjudicators only showed bias in favour of firms in 1 case in every 21,351 cases.  Quite a record of excellence…or is it ?

These were “service complaints”.   Not complaints about the merits of the decision, which are not possible at FOS because the Ombudsman’s decision is final and there is no independent appeal.

The information published by FOS does not reveal how many people thought the FOS decision was biased…a much more interesting figure !

FOI request, question and answer

Categories: FOI, FOS

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