FOS review calls for “regulatory action” over mass complaints

Lord Hunt’s independent review of the Financial Ombudsman Service (FOS) has recommended 73 changes to improve the transparency and accessibility of the body. The review concluded that the FOS needs to appeal to a wider proportion of society – “The FOS still looks too much like a middle-class service, for middle-class people” – and should deal with problems such as debt management in addition to more traditional areas of banking, mortgages and insurance.