Treasury Committee asks FOS for answers

The Treasury Committee has written to Caroline Wayman, Chief Executive of FOS, following an episode of “Dispatches” that suggested FOS was staffing cases with individuals with inadequate training or understanding of financial products, and claimed some cases had been decided in favour of banks without a proper reading of the files. Nicky Morgan’s letter asks for evidence to show there has been no poor decision-making at FOS. It also asks for comments on specific allegations made in the programme, including that there is a bias towards finding in favour of banks and that there is a reluctance to issue public decisions for fear of creating a precedent.