Legal
Regulatory gap leaves thousands of borrowers without access to ombudsman
The Financial Services and Pensions Ombudsman and Department of Finance said there were still elements of complaints that could be dealt with
A gap in regulation means the Financial Services and Pensions Ombudsman (FSPO) cannot investigate certain complaints for thousands of homeowners whose mortgages were sold to vulture funds prior to 2019.
Hundreds of thousands of homeowners had mortgages sold to so-called vulture funds, which are required to appoint a credit servicing firm for the day-to-day administration.
However, these credit servicers were required to be registered with the Central after the introduction of the Consumer Protection Act ...
