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28 june 2022, 13:04
The regular issue of the “Bulletin of the Financial Ombudsman Service (FOS)” has become available on the FOS website.
The Bulletin contains information about the FOS activities, comments on the issues of out-of-court dispute resolution, analytical materials on consideration by the FOS of the appeals of consumers of financial services.
The Bulletin’s materials mainly relate to the FOS activities in 2021. Last year the institute of out-of-court dispute resolution on the financial market reached its project capacity – the Financial Ombudsman started considering disputes of consumers and banks, non-state pension funds, credit consumer cooperatives and pawnshops. “For us, this is a new area, new competencies, and new ways of working – both procedurally and methodologically. That is why a significant block of materials presented in the new issue covers the subject of consideration of appeals from bank customers,” Chief Financial Ombudsman Yury Voronin noted.
Head of the Ombudsman for financial services consumers support Service (OFSC) Olga Kraynova describes, in her article, the subjects of appeals filed against credit institutions in 2021 and approaches followed by financial ombudsmen in issuing decisions. “The largest share of references to credit institutions are related to consumer loans – 10,186 references or 71.9% of the total number of references to credit institutions,” she says.
Some of the materials touch upon the unacceptable practices in the field of consumer lending, which were identified when reviewing appeals, as well as disputes relating to the imposition of additional services by banks at the conclusion of consumer loan agreements. Financial Ombudsman Denis Novak dwelt in particular on the subject of the return of the insurance premium for early repayment of the loan.
Financial Ombudsman Tatyana Savitskaya, in her column dealing with the processing of appeals filed against the National Pension Fund, spoke about the processing of a specific appeal related to claims for payment of non-state pension amounts.
The part on international experience in protecting the rights of consumers of financial services includes two interviews with representatives of this institution in Kazakhstan – with Insurance Ombudsman Pavel Zavalko and Banking Ombudsman Erserik Siyrbaev.
