FOS reports huge rise in cases

The FOS’ complaints data for Q4 2024 shows a rise of 40% in complaints over the same period last year.  It received more than 68,000 complaints – which was in fact slightly less than the number it received in Q2. Unsurprisingly, the most complained about product was motor hire purchase, but generally retail banking and credit card complaints remained high. Perceived unaffordable and/or irresponsible lending complaints comprised around 75% of the latest batch of complaints.

The FOS uphold level stays constant at 34%, and it is still upholding a significantly higher number of complaints from consumers directly than from professional representatives.