The FOS Working Group’s first meeting with bank representatives takes place

On May 13, 2021 the Financial Ombudsman Service held its first meeting of the Working Group with participation of the representatives of credit institutions.

The Working Group was established on April 20, 2021 at Head of the Ombudsman for financial services consumers support Service (OFSC) Olga Krainova’s command in order to discuss issues of cooperation between the Financial Ombudsman Service (FOS) and credit institutions.

The event was attended by representatives of banking associations – the «Russia» Association  and the Association of Russian Banks – as well as a number of credit institutions.

During the meeting, the main approaches were presented to develop a tariff policy and apply a differentiated contribution rate to credit institutions. The participants discussed the procedure for responding to FOS requests, including the composition and formats of the documents to be provided.

As a result of the event, it was decided to cooperate actively with the Service and market participants. Besides, guidelines for credit institutions will be worked out in the nearest future regarding content and formats of documents to be provided in response to FOS requests for standard appeals of consumers of financial services containing requirements for credit institutions.

The recommendations to be adopted by the Working Group are planned to be communicated to credit institutions through banking associations and posted on the FOS website, on the Regulation page.