The latest edition of Ombusdman News focuses on the impact of Covid-19 on SMEs and how FOS can help small businesses. It summarises which businesses it can help and gives examples of how it has helped without actually needing to adjudicate a complaint. It is seeing complaints not only about business interruption insurance, but also about loans issued under the CBILS and BBLS schemes (often where loans were declined or customer service was poor), but also more complaints about credit cards, current accounts, e-money and hire purchase – many continuing trends that were emerging before the pandemic.
Looking at the H1 2020 figures, FOS received around 76.000 non-PPI complaints, and “only” 41,000 PPI complaints – a significant drop on the previous half year. The average uphold rate was 42% excluding PPI and 31% including it. Almost half the complaints received in the banking and credit sector were upheld.