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flag Complaints to the Financial Ombudsman Service surged 49% in H2 2024, driven by banking and credit disputes.

flag The Financial Ombudsman Service (FOS) saw a 49% rise in complaints in the second half of 2024, totaling over 140,000 cases, mostly due to banking, credit affordability, and car finance disputes. flag Though mortgage complaints dropped by 9%, banking and credit issues saw a 76% increase. flag To manage the surge, the FOS plans to modernize its dispute resolution system with help from the Treasury and Financial Conduct Authority.

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