Memorandum of Understanding

Between the
Credit Ombudmman Service (COSL)
& Financial Ombudsman Service (FOS)

The purpose of this Memorandum of Understanding is to document the arrangement between COSL and FOS in relation to the handling of a complaint or dispute received by one scheme but which may be more appropriately dealt with by the other scheme where the loan which is the subject of the complaint or dispute is part of a securitisation programme.

This is desirable because in a securitisation programme, the programme funder or servicer may be a member of one scheme while the securitisation trustee may be a member of the other scheme.

Follow this link to view and download a copy of the Memorandum of Understanding between COSL & FOS