Why we need a free Financial Ombudsman Service

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Steve Bloor, of Open Resolution, says the Financial Ombudsman is a key defence against unscrupulous banks.

Anyone who has been involved in the legal process knows that winning is not just about the merits of your case but, in many cases, is also about the tactics you employ. The banks are master tacticians when the merits of their cases are perhaps questionable. One of their favourite tactics is to kick good cases into the legal "long grass". To mire otherwise strong cases against them in process and appeals in order to grind down their opponents and deter other potential claimants. The most recent example is the case involving the LIBOR linked interest rate swap sold by Barclays to ...

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