FSPO Timeframes

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FinancialQ

Registered User
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I have lodged a complaint with the FSPO in October 2021 (investigation stage). Does anyone know what the time frame is for my case to be allocated to someone. I assume it's fairly long but would like some kind of idea on what to expect.
 
There are many stages.
1) Lodge your complaint
2) Attempted mediation
3) Investigation and decision

You can't be at 1) and 3) at the same time unless you specifically refused mediation.

Brendan
 
Hi Brendan, Yes I went through stage 1 and 2 to no avail and so have moved to stage 3 last October but my case hasn't been assigned to anyone yet. Just wondering how long this might take as I know it can take a considerable amount of months. Any idea?
 
FinancialQ said:
stage 3 last October but my case hasn't been assigned to anyone yet. Just wondering how long this might take as I know it can take a considerable amount of months.
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For me it took about three months (non-tracker, between three and five years ago).

Not sure what up-to-date timelines are. I've read reports of a big increase in complaints volumes.
 
Would anyone know how long it takes for a decision by the FSPO from the time that they have all the information and both parties have said they have nothing else they wish to submit.
 
Have you moved to adjudication stage?
You will receive a letter (sometimes by email) from your case handler informing you that your case has moved to formal adjudication and advising you of prospective timeframe. This happens fairly immediately after both parties say they have no further submissions to make.

How long in adjudication depends on whether your complaint is tracker related or not.
Tracker adjudication is taking 12 - 18 months at the moment. For some; longer than that.
For non-tracker related cases I'm told it's taking 6-12 months but sometimes less.
 
Thanks for that, it's not tracker related so hopefully it won't take 18 months. They sure are long timeframes, I was hoping it wouldn't be so long but I assume they are a short staffed as every other business in the country. I may just sit tight and wait so.
 
Hello I have lodged a complaint with the fspo in July 2024. Can anyone advise from experience on approx waiting times for it to be referred to a legal services officer for full legal review. The fspo have responded saying they cannot give a timeline due to the volume of complaints. It was initially reviewed and then listed for full legal review in late August. Just concerned it may take another year or 2 and I need to make decisions.
 
@noseynu
I'm in the same boat as yourself at this point. Original complaint submitted in Jan/ Feb '23, was quickly through a (rejected) mediation which was a total nonsense if being honest. We have now had two years back and forth on an open/ shut case of the Bank lying through their teeth. I have requested a Legal review on the basis of material that has been obtained via multiple DAR's and the behavior of the Bank in their extremely sluggish release of info. That request went into the FSPO in September last and the file has been shelved ever since. I have now raised a complaint to their own Complaints Section (the irony) and despite being told earlier that it would be 6 months to appoint a Legal Review Officer to commence the review, we are now in month 7, pushing on for month 8. I'm told that next week (now this week) that they will be corresponding with me shortly as to the appointment. There will be no holding of breath.

You can see immediately why the Banks throw out low ball offers in the hope (expectation) that people will just give up as a result of this ludicrously long process. They are laughing at their own customers, and why wouldn't they.
 
DMcC24 said:
I have requested a Legal review on the basis of material that has been obtained via multiple DAR's and the behavior of the Bank in their extremely sluggish release of info. That request went into the FSPO in September last and the file has been shelved ever since. I have now raised a complaint to their own Complaints Section (the irony) and despite being told earlier that it would be 6 months to appoint a Legal Review Officer
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To be fair, you are just adding to the delays yourself at this stage.

If the bank was "lying through its teeth", then this would be obvious to the FSPO and they would take that into account in making their decision.
 
Brendan Burgess said:
stage.
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I don’t believe that is an entirely fair analysis, particularly in the absence of fuller information.

The FSPO have already told me that they would not be making additional enquiries from this institution over and above the information that I provide.

The only way that proper evidence can be secured is by way of Data Acess Request which at this point we are now in double figures. If the FRL’s were the only things to be produced by the Bank, you’d be as well to close the investigation now, with no case to answer and have us apologising for inconveniencing them.

We have managed to uncover further negligent misreporting on thousands of tracker accounts, which as I said would not have come to light had it not been for our DAR’s.

In the three years that the investigation has been open there has been nothing meaningful from the FSPO except a post box exchange of correspondence.
 
DMcC24 said:
We have managed to uncover further negligent misreporting on thousands of tracker accounts, which as I said would not have come to light had it not been for our DAR’s.
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Well if you have evidence of this, then you should bring it to the attention of the Central Bank. They won't get back to you but they will take it up with the institution and if your accusation holds up, they will be told to redress these thousands of people and no one will need to go to the Ombudsman.
 
DMcC24 said:
The only way that proper evidence can be secured is by way of Data Acess Request which at this point we are now in double figures. If the FRL’s were the only things to be produced by the Bank, you’d be as well to close the investigation now, with no case to answer and have us apologising for inconveniencing them.
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No one can really comment on this as you provide no details. The vast majority of DARs that I have seen have been just wasting time.

You had a complaint about something. You must have made that complaint based on information you had - a mortgage contract or a letter from the bank. There really should be no need for a DAR or "double figures" of them and I suspect that the Ombudsman is correct in telling you that they add no evidential value.

I have seen lots of complaints going into banks and the Ombudsman. Some are valid. Many are not valid. Many of the invalid ones have people who imagine some big conspiracy and it's really they are just not thinking clearly due to their annoyance. In time the Ombudsman looks at their complaint , summarises it and gives his decision which is usually a rejection.
 
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