CliveH Posted October 16, 2013 Share Posted October 16, 2013 Barclays tops FCA's complaints list by Alex Steger on Oct 16, 2013 at 10:18 Barclays Bank has topped the Financial Conduct Authority’s (FCA) list of the most complained about financial firms for the first half of 2013. Barclays racked up 370,733 complaints of which 62% where upheld by the bank. Despite Barclays’ complaints falling by 11% from the last six months of 2012 it beat Lloyds Banking Group which came second with 253,735 complaints of which 62% were upheld. MBNA came in third with 237,103 complaints of which 36% were upheld, with Bank of Scotland fourth with 222,249 complaints (45% upheld) and Santander fifth with 198,736 (43% upheld). Overall complaints against financial firms fell by 500,000 with 2.9 million made in the first half of 2013 compared to 3.4 million in the last six months of 2012. Lloyds saw a 27% fall in complaints, MBNA 12%, Bank of Scotland 34% and Santander 16%. The FCA found 51% of the complaints reported in the first half of 2013 were upheld, with £2.6 billion of redress paid to consumers. FCA chief executive Martin Wheatley said: ‘Publishing complaints data is a powerful tool that helps encourage competition between firms to improve their service to customers, and help consumers assess their relationships with banks and other providers.’ ………………………………. Why I say you could not make this up is because Hector Sants – the ex Head of the FSA, who oversaw the debacle that was regulation during the “credit crunch” left the FSA to take on the role of Head of Compliance at Barclays! He did not last long though – apparently the stress of “being on the other side of the regulatory fence” has taken its toll and poor old Hector has taken sick leave from his £3M a year job as Head of Compliance at Barclays. http://www.bbc.co.uk/news/business-24539038 Anything to do with the fact that the new FCA cites Barclays as having the most complaints and the most upheld complaints? The comments posted on the Forum are quite funny:- "12 comments so far. Why not have your say? Neil Walker Oct 16, 2013 at 10:26 That's a lot of complaints - are the banks learning anything from past mistakes? Richard R Oct 16, 2013 at 10:27 Barclays should take 3 months off; that will cut the number of complaints by 25% at a stroke Stephen Cave Oct 16, 2013 at 10:29 funny how this comes out the day after dear Hector goes of on sick leave for stress!?! RegulatorSaurusRex Oct 16, 2013 at 10:30 No wonder Sants walked. Julian Stevens Oct 16, 2013 at 10:38 No cynicism intended here, but maybe Sants has actually bitten off more than he can chew and the job of Barclays' chief compliance officer really is very stressful. It must be quite a shock to the system to find himself on the other side of the fence. Chris Miller Oct 16, 2013 at 10:57 Delicious irony. The head of the FSA joins Barclays as head of compliance, goes off sick, apparently unable to handle the work, and his new employer tops the list for complaints. Still, I'm sure the multi million pound wage packet, probably payable whether he fails dismally or meets his goals, will no doubt be paid to him. A parallel universe. Peter Green Oct 16, 2013 at 10:58 Oh dear poor old Hector.You really could not make this up!! ................................... Indeed - I am not sure you could make this up. Link to comment Share on other sites More sharing options...
Will86 Posted October 16, 2013 Share Posted October 16, 2013 Proporgandar Link to comment Share on other sites More sharing options...
CliveH Posted October 16, 2013 Author Share Posted October 16, 2013 artificialgoose Link to comment Share on other sites More sharing options...
Tracker Posted October 16, 2013 Share Posted October 16, 2013 No doubt the banking system of rewarding failure more than success will prevail and dear old Hector will walk away better off than if he had stayed and then walk straight into an even better paid job - all funded by the same people that fund everything - the customer. And they wonder why we are so cynical! Link to comment Share on other sites More sharing options...
CliveH Posted October 16, 2013 Author Share Posted October 16, 2013 This is no doubt a tad over the top (even for me!! (lol) ) - but i cannot help but think that "poor old Hector" had a cushy Public Sector job, dictating and pontificating as head of the FSA to all those that cam under its Judge Jury and Executioner remit - and then when found out that the whole thing was a pile of poo as regards actually protecting the consumer and is going to be disbanded - he gets a job with Barclays as Head of Compliance. A few months into this new job the stress is so great he goes on sick leave for three months. The timing of this is "coincidental" with the new FCA publishing the fact that Barclays had the highest number of complaints AND the highest number of complaints upheld. And yes Rich - you are right - as customers we all pay and pay very heavily indeed for this debacle. :-S Link to comment Share on other sites More sharing options...
Tracker Posted October 16, 2013 Share Posted October 16, 2013 I find it so hard to believe that 'cushy public sector' jobs, with all their accountability to nobody in particular and funded by the ever deepening pocket of the 'taxpayer' are preferable to 'stressful private sector' jobs funded only by the customer!! So where does that leave the self employed and small businessman then? Funded by only himself (or herself) and in the same place as ever I guess - sink or swim mate 'cos no bugger cares or will offer you any help or support that you don't have to pay for yourself. Welcome to the real world! Link to comment Share on other sites More sharing options...
CliveH Posted October 16, 2013 Author Share Posted October 16, 2013 Tracker - 2013-10-16 2:12 PM I find it so hard to believe that 'cushy public sector' jobs, with all their accountability to nobody in particular and funded by the ever deepening pocket of the 'taxpayer' are preferable to 'stressful private sector' jobs funded only by the customer!! So where does that leave the self employed and small businessman then? Funded by only himself (or herself) and in the same place as ever I guess - sink or swim mate 'cos no bugger cares or will offer you any help or support that you don't have to pay for yourself. Welcome to the real world! Well said that man! As for :- "So where does that leave the self employed and small businessman then?" Holding the $hitty end of the stick and paying for the privilege would be my take on the situation >:-( Link to comment Share on other sites More sharing options...
capcloser Posted October 16, 2013 Share Posted October 16, 2013 Used to bank with the woolwich then it was taken over by barclays i asked what i needed to do about my direct debits cos they gave me a new account number they told me they would sort it and i didnt have to do anything, a month later we had both mobiles cut off cos vodaphone hadnt had payment,then the car and motorbike insurance,i paid it all up to date over the phone.About 2 months later i tried to upgrade my mobile and found voda had me down as a bad credit or something!,and couldnt have a new mobile for 6 months.When i explained what had happened voda gave me a £50 credit,barclays refused to accept responsibility and blamed both voda and my insurance company and didnt even apologise Link to comment Share on other sites More sharing options...
CliveH Posted October 17, 2013 Author Share Posted October 17, 2013 If you had officially complained to Barclays such that they had to formerly write to you rejecting your complaint you could then refer the case to the FOS (Financial Ombudsman Service) If events were as you say they were, (I do not doubt you) you would most likely have won and received compensation. http://www.financial-ombudsman.org.uk Link to comment Share on other sites More sharing options...
malc d Posted October 17, 2013 Share Posted October 17, 2013 I'm not surprised this bloke screwed up if they only paid him £3 million a year. :-( Link to comment Share on other sites More sharing options...
Guest 1footinthegrave Posted October 17, 2013 Share Posted October 17, 2013 Do any of you folk think these people give a s**t about the pond life they all regards us as, no of course not, it has always been the same, it's the rich that get the pleasure, it's the poor that get the blame, ain't it all a bloody shame. The only time I did a crap job I was sacked on the spot and that was the end of that, I've often wondered what happened to my severance pay. Link to comment Share on other sites More sharing options...
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