who sets the rules of the financial services ombudsman scheme
Financial Ombudsman Service The board of the Financial Ombudsman Service[42] is appointed by the Financial Conduct Authority â€“ and the appointment of the chairman is approved by HM Treasury. The board's role includes guarding the independence of the ombudsman - from undue influence by the financial services industry and trade bodies, regulators, consumer groups and government. Board members are non-executive - they have no involvement in individual complaints.
HUD-1 Settlement Statement As part of new rules established by the Consumer Financial Protection Bureau effective October 3, 2015, the HUD-1 Settlement Statement became obsolete. It has been replaced by a document called the Closing Disclosure that consolidates the HUD-1, Good Faith Estimate, and Truth in Lending Act disclosures.