The complainant suggested the regulator was failing to ensure banks accepted responsibility for their misconduct.
Complaints commissioner Antony Townsend said he was concerned that the FCA's approach throughout the matter had been to advance arguments for why the bank’s rejection of the claim might have been justified, which he emphasised was not the regulator’s role, rather than addressing the systemic issues which the complaint raised.
5) Tax changes bite
The Intermediary Mortgage Lenders Association (Imla) warned the introduction of various tax and regulatory changes since 2015 would begin to have an effect on property availability and tenant choice in the rental sector from this year.
The body expects policies to contribute to higher rents for tenants, which would in turn make it harder for those who are trying to save for deposits to buy their own homes.
Landlords have been subject to a number of regulatory changes in recent years, with the introduction of an additional 3 per cent stamp duty surcharge on second homes in April 2016, which was closely followed by cuts to mortgage interest tax relief.
According to Imla, the effects on landlords of these changes will be reflected in their tax bills for the first time this month.