Publishing all FOS decisions could set precedents and lead to consumers relying on past decisions to influence the outcome of their case, says Yorkshire Building Society.
The society’s response to the Hunt review says the current Ombudsman News publication is more than sufficient for both businesses and consumers.
It says: “The society does not agree that the FOS should be made to publish all of its decisions. as such practice may ultimately become inconsistent with the FOS principles to determine each case on its own facts and to achieve an outcome which is fair in each circumstance.”
The firm believes publication could result in the FOS being forced to adopt a more precedent-led approach in its decision making process, which could conflict with what is fair in a particular circumstance and may prejudice future claims.
It says it would support the issue of guidance or statements of principle on particular issues, which in conjunction with the Ombudsman News would assist both consumers and the industry.
The society’s submission also raises concerns about consumers’ views of the FOS, saying that while some embrace access to the ombudsman, others refuse to use the service.
It says: “The society has experienced situations in which a customer has been informed of their right to refer their complaint to the FOS, following a final decision, but has refused to do so on the grounds that they do not consider the FOS to be independent, given it is funded by the industry.”