Bank merger – alleged maladministration
last updated August 2007
A consumer had experienced several instances of alleged maladministration following the merger of his bank with another bank. He was of the view that many other customers must also have suffered similarly. The FSA and the ombudsman decided that whilst there may well be wider-implication issues involved – it was not necessary to apply the wider-implications process.
FSA’s supervisory function and the availability of the ombudsman service for individual complaints provided the appropriate balance of regulatory oversight and consumer protection. The FSA and the ombudsman service would however keep the situation under review, including monitoring the level of complaints coming through to the ombudsman service.