The FOS has published the annual figures for reports it received in the year to 8 July, It notes the figures don’t include complaints brought by businesses but may include some brought by charities and trustees.
Key stats include:
- 175,000 complaints from UK residents and nearly 7,000 from non UK residents;
- complaints relating to 175,000 business in the UK and nearly 7,000 outside the UK;
- of the total complaints, nearly 129,000 were about banking including consumer credit, and 43,000 about insurance;
- nearly 800 complaints were dismissed, for various reasons, but half of them because the FOS considered that dealing with it would seriously impair its effective operation – it noted this included cases it had already dealt with and those where firms had entered insolvency; and
- average resolution time of 42 days.