FOS Complaints Down But PPI Still Dominates Data

Volume of complaints received by the Financial Ombudsman Service is coming down from the stratospheric levels reached in the past few years. However, mis-sold PPI policies continued to remain a major problem. 56% of all new cases received in the second quarter of 2012 are related to missold PPI. On the other hand, complaints relating to credit cards and current account transactions constitute just 6% of the total new complaints received in the quarter. While the total number of complaints received by the financial mediator has come Continue reading

PPI- One In Five Enquiries With The FOS End Up As A Complaint

The numbers provided by FOS clearly indicate the seriousness of the payment protection insurance problem. There has been a 25%+ increase in the number of complaints received by the FOS in 2011-12. In all, the Ombudsman received a record 264000 complaints in the year. 60% of these complaints were related to PPI. The FOS received more than 5000 complaints and enquiries for each working day in the past year. Continue reading