FOS to give evidence to MPs amid looming car loan crisis
On Tuesday morning, the Chair and Interim Chief Executive of the Financial Ombudsman Service (FOS) will appear in front of the Treasury Committee to discuss the work of the complaints-handling body.
Meeting details
Following the decision by Abby Thomas to step down as Chief Executive today (Thursday 6 February), the Committee will hear from James Dipple-Johnstone who has been appointed as her replacement on an interim basis. MPs may choose to explore the circumstances around Miss Thomas’ departure.
In broad terms, the session is likely to look at the role the FOS is playing in financial consumer issues and how it is managing its workload.
The Committee may seek to establish to what extent the ongoing legal proceedings related to the motor financing sector and commissions has impacted the FOS, including how it is working with other organisations.
As MPs seek to understand whether the FOS is operating effectively on behalf of both firms and consumers, Members of the Committee may choose to cover topics such as Authorised Push Payment Fraud and the possible impact of regulatory reforms on the FOS.