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CRED 17.4 Internal complaint handling procedures: additional requirements

CRED 17.4.1R

The additional requirements in CRED 17.5 - CRED 17.7 (on time-limits, record-keeping; reporting and cooperation with Ombudsman) do not apply:

  1. (1)

    where the credit union has taken reasonable steps to determine, and has determined, that the complaint:

    1. (a)

      is not made by, or on behalf of, an eligible complainant; or

    2. (b)

      does not relate to an activity of that credit unionwhich comes under the jurisdiction of the Financial Ombudsman Service; or

    3. (c)

      does not involve an allegation that the complainant has suffered, or may suffer, financial loss, material distress or material inconvenience; or

  2. (2)

    where the complaint has been resolved by close of business on the business day following receipt.

CRED 17.4.2G

DISP 2.6 sets out the activities which come under the jurisdiction of the Financial Ombudsman Service, as follows:

  1. (1)

    regulated activities;

  2. (2)

    lending money secured by a charge on land;

  3. (3)

    lending money (other than restricted credit);

  4. (4)

    paying money by a plastic card (other than a store card);

  5. (5)

    the provision of ancillary banking services;.

CRED 17.4.3G

Financial loss includes indirect or future loss, in addition to actual loss. For example, a complaint may involve an allegation that the complainant may suffer financial loss which has not yet occurred.