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FOS unveils 20% budget cut

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The Financial Ombudsman has said it will need to recover 20% less from financial businesses to support its budget in the 2014/2015 year, compared with the previous twelve months.

In its proposed plan and budget published today, the FOS said it will no longer charge businesses the £350 supplementary case fee for PPI complaints as it has "geared up resources sufficiently to

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