* Lawmaker group says stronger action is required
* FCA says cant go further without new law
* Small business lobby calls for new dispute body (Adds lawmaker, small business reaction)
By Huw Jones
LONDON, Jan 22 (Reuters) – More companies should be allowed to complain to the Financial Ombudsman Service to seek redress if they feel they have been treated badly by their banks, Britains markets watchdog said on Monday.
The Financial Conduct Authority said only very small firms with fewer than 10 staff and balance sheet of up to two million pounds ($2.8 million) currently have access to the FOS, which can arbitrate on a complaint and order compensation.
The FCA came under pressure from lawmakers to extend access to the FOS following scandals…
Read the full article at: https://www.reuters.com/article/britain-companies-regulator/update-2-uk-watchdog-proposes-wider-access-to-bank-complaints-scheme-idUSL8N1PH2I7