The Financial Ombudsman Service (FOS) has launched a consultation which puts forward potential changes to the way it reports business-specific complaints data giving firms the option to "proactively settle" claims within 14 days.
The two-week consultation, which runs to 20 March, sets out proposals it said are designed to incentivise firms to settle complaints "proactively" where the FOS is yet to issue an opinion by making a longer-term change to how it publishes business-specific complaints data. It explained the move followed a similar initiative launched in November 2021 which it added led to about 100 firms making 7,000 offers to resolve complaints more quickly. It said: "The service has been considering the results and feedback from that initiative to see if we can, and should, take forward something sim...
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