Ombudsman proposes changes to interest levels applied to compensation

finance news • news • web article

The ombudsman can currently direct businesses to pay 8% interest on top of the compensation for the period their customer was out of pocket.

The Financial Ombudsman Service said feedback suggested its compensation interest rate ‘could be better aligned with, and reflect, market conditions’ (Gareth Fuller/PA) - (PA Archive) — image source: static.independent.co.uk

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The Financial Ombudsman Service said feedback suggested its compensation interest rate ‘could be better aligned with, and reflect, market conditions’ (Gareth Fuller/PA) - (PA Archive) — image source: static.independent.co.uk

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