FOS have they actually read the guide for lenders issued by the FSA on treating their customers fairly?

[cher69cher69]

After dealing with the FSA and the FSO I have come to the conclusion that they haven't got a clue what they are on about?

 

As a consumer before making a complaint I read every rule and regulation and every handbook there was available to try and make some sense out of the whole system of regulation and to try to work out where I stood. I was left confused as some are rules that FSA members are supposed to adhere to but others are merely guidelines and lenders can please themselves.

 

Isn't it about time that there were strict rules laid down for lenders, forget the guidelines they are a waste of time.

 

So that the ombudsman and the customers know where they stand from the outset.

Surely this is more logical approach.

Well here's hoping for the future.

[rebel11]

Hi cher

 

Welcome to CAG

 

The guys will be happy to advise as soon as they are available.

 

Totally agree, all of it needs looking at. The system should be there to protect consumers, it should be user friendly, but instead it's:-

 

'There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know.' Thats pretty clear.

[ims21]

Ah....good old Donald Rumsfeldt...whatever happened to him rebel?

 

And yes, you're perfectly clear in your analysis

 

Problem is that the banks flaunt and ignore all of this stuff and the regulatory bodies have teeth that lack a certain amount of "bite".

 

Human beings need hope otherwise all is lost....how depressing!

 

Regards

 

ims

[Airwolf]

After dealing with the FSA and the FSO I have come to the conclusion that they haven't got a clue what they are on about?

 

As a consumer before making a complaint I read every rule and regulation and every handbook there was available to try and make some sense out of the whole system of regulation and to try to work out where I stood. I was left confused as some are rules that FSA members are supposed to adhere to but others are merely guidelines and lenders can please themselves.

 

Isn't it about time that there were strict rules laid down for lenders, forget the guidelines they are a waste of time.

 

So that the ombudsman and the customers know where they stand from the outset.

Surely this is more logical approach.

Well here's hoping for the future.

 

The FSA Handbook details which are rules and which are guidelines and should be read in conjuction with the FSMA 2000 and subsequent legilslation

 

http://fsahandbook.info/FSA/html/handbook/

 

http://www.legislation.gov.uk/ukpga/2000/8/contents

Edited November 26, 2011 by Airwolf