Ombudsman confirms new card protection insurance complaints category
The Financial Ombudsman Service (FOS) has confirmed that it has created a new category for complaints about card protection insurance due to the volume of complaints it is now receiving.
The FOS made the announcement following the Financial Conduct Authority's revelation that the cost of repaying mis-sold policies could hit £1.3bn and that a new process for making claims had been put in place.
According to the Ombudsman it received 247 new complaints about card protection insurance during the first three months of this financial year which began in April. It added that it was currently finding in favour of the consumer in 76% of complaints it resolved.
The FOS detailed that the
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