In improvements to your a couple much time strings conclusion chatted about a lot more than, others a few present FOS behavior your Dear Chief executive officer letter mentions, Lender C and you can Financial D, are about fund that will be more half a dozen years of age. I have written about this type of conclusion here. In both cases, FOS takes into account it does research the brand new problem while the customer complained contained in this three years of becoming alert they might.
UPDATE: QuickQuid still appears to be informing users it won’t consider refunds towards funds over 6 years old, quoting factors that skip FOS’s current behavior, pick QuickQuid – misleading users throughout the fund more 6 years of age.
New Precious Ceo page goes far beyond simply indicating pay day loan providers need certainly to improve their problems addressing. They states:
firms is find out the scope and you can seriousness of user hindrance which could have arisen, and you may consider should it be reasonable and you will sensible to your corporation so you can proactively take on an excellent redress otherwise removal exercise, which could become calling customers who possess not complained. Continue Reading Look at the need for an effective redress design