The Financial Services and Pensions Ombudsman office was set up to avoid consumers having to go to court. Stock image
Claims have been made that the State’s free financial services ombudsman service has “collapsed” after it emerged it is now taking up to five years to resolve consumer complaints.
Long delays for adjudications have led to accusations that the service “is not fit for purpose”, with some financial advisors now telling consumers who have complaints about banks and insurers to go to court to get their issues resolved.