Media Release – February 2012
Financial Services Ombudsman - Bi-Annual Review
The Financial Services Ombudsman (FSO), William Prasifka, publishes his Office’s Bi-Annual Review (July to December 2011) on 16 February available online
The Review shows that:
In publishing the Review, Mr Prasifka states:
'After a number of years of record increases, 2011 showed a levelling off of new complaints but they still remain extremely high, showing the continued pressures faced by Consumers particularly in mortgage and related insurance areas.
A decrease in the complaints upheld occurred towards the end of 2011. This reflects well on some Financial Institutions and, I would hope, shows an effort by industry to internalise the FSO's Findings and guidelines.
It has been the FSO's long-stated position to encourage Financial Institutions to actively engage with Consumers when a complaint is raised and try to resolve matters as soon as possible. Recent trends indicate that some Institutions are taking on board the FSO's Findings and guidelines.
However, the industry must continue to change is practices in dealing with consumers and make genuine efforts to work with Consumers before complaints are referred to the FSO. It is very clear that such engagement is to all parties' benefit.'
Further information please contact Conor Cashman (01–631 8575)
Financial Services Ombudsman’s Bureau, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.
Tel: 01 - 6620899