FSPO Publishes results of 180 Complaints

The Financial Services and Pensions Ombudsman has published 200 decision made on complaints to financial institutions. Seventy-two complaints were either fully, substantially or partially upheld. The Ombudsman, Ger Deering, has said he is happy that financial institutions are applying decision to groups of customers after a decision has been made. He also highlighted the recurring issue of providing inaccurate or incorrect credit information, which can lead to serious problems for the customer, including the refusal of credit.


The FSPO deals with a wide range of complaints relating to insurance, banking, credit facilities and investments, as well as pensions. Some examples of directions made by the Ombudsman in the decisions published include:

  • Compensation of €10,000 after a lender failed to correct a customer’s credit profile, following a credit card being issued in the customer’s name without his knowledge or permission.
  • A direction to write down 12% of the capital balance on a mortgage, backdated to 2010, following the failure to offer a customer the option to convert to a tracker interest rate mortgage loan in line with the bank’s contractual obligations. The bank was also directed to repay the difference between the interest paid and what would have been paid on the reduced balance.
  • Compensation of €2,500 after a bank failed to provide an explanation for declining a transaction on a customer’s credit card and gave poor customer service.
  • Compensation of €22,000 due to particularly difficult circumstances suffered as a result of significant overcharging resulting from the denial of tracker mortgage interest rate.
  • Compensation of €8,000 for overcharging where a tracker interest rate was not applied and a mortgage was restructured.
  • Compensation of €1,500 for failures in service and poor levels of communication from a bank arising from the freezing of a customer’s account following bankruptcy.
  • Compensation of €8,000 for poor communication regarding a no claims bonus and subsequent cancellation of a car insurance policy.
  • A direction to an insurer to amend its records to reflect the ending of an insurance policy as a voluntary cancellation, rather than a voided policy, to refund a €50 administration fee and to pay a sum of €250 in compensation for poor communication.
  • Compensation of €1,000 for poor communications relating to the automatic renewal of a car insurance policy.