PPI complaints soar by 57%
The Financial Ombudsman Services (FOS) has revealed that the number of payment protection insurance (PPI) cases it received increased to 30,301 in the final three months of 2011.
The figure represents a 57% hike on the 19,259 recorded between July and October 2011 and is the equivalent of nearly a third of PPI complaints received in the 2010/11 year.
The rise means that year to date, the FOS has received 104,597 complaints.
In terms of resolution of complaints, the final three months saw 68% resolved in favour of the customer, a drop from 92% the previous quarter.
At the start of this year, the FOS published its budget for the year in which it predicted that it would
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