Powers of attorney – increasing complaints about bank staff awareness

Nick Palmer4

By Nick Palmer

Despite updated joint guidance from the BBA, Building Societies Association and the Office of the Public Guardian, there remains a lack of awareness among bank and building society staff about powers of attorney.

In 2015 there were 178 complaints to the Financial Ombudsman Service, with 79 complaints upheld. These are double the corresponding figures from 2010.

This poor service from banks and building societies leads to misinformation, delays, cost and increased stress, at a time when attorneys are trying to help protect the finances of often vulnerable adults.

For the guidance, please click here.