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Status: You are viewing the version of the handbook as on 2009-03-31.

CRED 17.1 Application and Purpose

CRED 17.1.1R

This chapter applies to all credit unions.

CRED 17.1.2G

This chapter replaces DISP 1 (Treating complainants fairly).2 which does not apply to credit unions (2DISP 1.1.5 R (2)2).

2
CRED 17.1.3G

This chapter is also relevant to eligible complainants who might wish to refer a complaint to the Financial Ombudsman Service.

CRED 17.1.4G

DISP 2 - DISP 4 (which cover jurisdiction and procedures of the Financial Ombudsman Service) and FEES 5 (which covers funding of the Financial Ombudsman Service) apply to credit unions.

CRED 17.1.5G

The purpose of this chapter is to set out the rules relating to the internal handling of complaints by a credit union, including:

  1. (1)

    the procedures which a credit union must put in place;

  2. (2)

    the time limits within which a credit union must deal with a complaint;

  3. (2A)

    the referral of complaints;1

  4. (3)

    the records of a complaint which a credit union must make and retain; and

  5. (4)

    the requirements for a credit union to report information about complaints to the FSA.

CRED 17.1.6G

This is to ensure that complaints are handled fairly, effectively and promptly, and are resolved at the earliest possible opportunity, thereby minimising the number of unresolved complaints which need to be referred to the Financial Ombudsman Service. This purpose is compatible with the FSA'sconsumer protection statutory objective.