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Rise in PPI complaints takes FoS to new record

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The Financial Ombudsman Service (FoS) has revealed that complaints between 1 January and 30 June 2013 reached a record high of 327,035, a 15% increase on the previous six months.

The ombudsman stated that complaints about payment protection insurance (PPI) made up more than eight out of ten (86%) of the total complaints during the period.

In the first half of 2013 it received 266,228 new PPI complaints compared to 211,885 in the last six months of 2012.

Complaints about financial products other than PPI actually fell by 15% from 71,366 to 60,807 during the first six months of the year.

The FoS explained that this involved a decrease of 22% in banking complaints and a 3%

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