A report in Money Marketing, a finance industry newspaper, has stated that the Building Socities Association Director General, Adrian Coles, appeared on BBC Radio 4 and stated that the Association wants the right of financial industries to appeal against Financial Ombudsman decsions.
Currently, when a complaint reaches the Ombudsman, the public are not bound by the Ombudsman's decision but the financial company is and has no right to appeal.
Our View
Well what a surpise! It is a fact that around 90% of all complaints sent to the Financial Ombudsman Service are for complaints about the advice or actions of Banks and Building Societies. I wonder why they want an appeal service?