CONSUMER WINS : Financial ombud claws back R443m for consumers but the cases carry warnings

Daily Maverick

CONSUMER WINS : Financial ombud claws back R443m for consumers but the cases carry warnings

The National Financial Ombud Scheme (NFO) returned almost R443-million to South African consumers in only its second year of operation, a sharp rise from the R328.5-million recovered in its first year. The NFO scheme brings together four ombud offices that previously operated separately: the banking ombud, credit ombud, the short-term insurance ombud and the long-term insurance ombud.

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