An Independent Review has cleared the Financial Ombudsman Service of being unfit for purpose following a probe by Channel 4’s Dispatches programme earlier this year.

The Financial Ombudsman Service has enlisted former Which? executive director Richard Lloyd to head a review into FOS’s complaints handling.

Nicky Morgan MP, chair of the Treasury Committee, has written to the Financial Ombudsman Service about TV’s ‘Dispatches’ programme which this week exposed poorly trained FOS staff searching on Google to learn about what products they were reviewing.