Vanquis and Barclays lead surge in bank complaints amid motor finance

Vanquis and Barclays lead surge in bank complaints amid motor finance

Banking complaints rocketed by 76 per cent in the second half of 2024 as the motor finance scandal continued to haunt the sector, according to the Financial Ombudsman Service (FOS). The regulator revealed of the 141,846 complaints made to the FOS, 77 per cent were related to banking and credit at 109,155. This also marked a huge leap from the same period in 2023, where it received 62,139 banking and credit complaints. The total number of grievan…

Complaints about banks increase by 76% - Credit Connect

Complaints to the Financial Ombudsman Service (FOS) regarding banks and credit card companies surged by 76% year-on-year in H2 2024, accounting for 109,155 out of an overall total of 141,846 complaints. This increase is attributed to a rise in financial scams and fraud. Vanquis Bank topped the list with 17,612 new complaints, followed by credit card provider NewDay with 8,345. Barclays received 4,301 complaints in the second half of 2024, while …

FOS Capital Expands with Lighting Acquisition

FOS Capital Limited (ASX: FOS) has announced the acquisition of Glowing Structures, a Melbourne-based specialist lighting design consultancy. The acquisition, completed on May 5, 2025, aims to significantly expand FOS Capital’s footprint in the lighting services industry. Glowing Structures, established in 2007, offers innovative design services and technical advice from conception to installation across diverse sectors, including education, com…

FOS publishes half-yearly complaints data

On 6 May 2025, the Financial Ombudsman Service (FOS) published its half-yearly complaints data for H2 2024. Key findings from the data include: The number of new complaints in the banking and credit sector increased from 62,139 in H2 2023 to 109,155 in H2 2024. The main drivers identified for the rise in complaints were disputes about banking fraud, credit affordability and motor finance. Professional representatives were found to account for…

FOS receives 'significant increase' in complaints during second half of 2024

The FOS received around 141,846 complaints between July and December 2024, a rise of 49% on the same period the year before.

FoS consumer complaints jump 49% led by motor finance cases – Mortgage Finance Gazette

Consumers continue to register “high volumes of complaints” notching up almost 142,000 cases in the last six months of last year, driven by motor finance, banking fraud and credit affordability disputes, says the Financial Ombudsman Service. The disputes service received 141,846 complaints between July and… The post FoS consumer complaints jump 49% led by motor finance cases appeared first on Mortgage Finance Gazette.