CREDS 9.2 Reporting

Where a credit union has forwarded to another respondent only part of a complaint or where two respondents may be jointly responsible for a complaint, then the complaint should be reported by both firms.

For the purposes of CREDS 9.2.4 R:

1. (1)

   a complaint received on any day other than a business day, or after close of business on a business day, may be treated as received on the next business day; and

2. (2)

   a complaint is resolved where the complainant has indicated acceptance of a response from the credit union, with neither the response nor acceptance having to be in writing.

For the purpose of CREDS 9.2.1 R, and upon completing the return, the credit union should note that:

1. (1)

   where a complaint could fall into more than one category, the complaint should be recorded against the category that the credit union considers to form the main part of the complaint;

2. (2)

   where a complaint has been upheld under CREDS 9.2.1R (3)(a), a credit union should report any complaints to which it has given a final response which accepts the complaint and, where appropriate, offers redress, even if the redress offered is disputed by the complainant. Where a complaint is upheld in part, or where the credit union does not have enough information to make a decision yet chooses to make a goodwill payment to the complainant, the credit union should treat the complaint as upheld for reporting purposes. Where a credit union rejects a complaint, yet chooses to make an ex-gratia payment to the complainant, the complaint should be recorded as rejected;

3. (3)

   where a credit union reports on the amount of redress paid under CREDS 9.2.1R (4), redress should be interpreted to include any amount paid, or cost borne, by the credit union, where a cash value can be readily identified, and should include:

   1. (a)

      amounts paid for distress and inconvenience;

   2. (b)

      a free transfer out to another provider which transfer would normally be paid for;

   3. (c)

      ex-gratia payments and goodwill gestures;

   4. (d)

      interest on delayed settlements

   5. (e)

      waiver of an excess on an insurance policy; and

   6. (f)

      payments to put the consumer back into the position the consumer should have been in had the act or omission not occurred;

4. (4)

   where a credit union reports on the amount of redress paid under CREDS 9.2.1R (4), such redress should not, however, include repayments or refunds of premiums which had been taken in error (for example where a credit union had been taking, by direct debit, twice the actual premium amount due under a policy). The refund of the overcharge would not count as redress.

Financial penalties may be imposed for the late submission of the complaints report required by CREDS 9.2.1 R.

SUP 16.3.14 R applies to the credit unions' complaints returns.

The contact point in CREDS 9.2.1 R5 can be by name or job title and may include, for example, a telephone number.