FCA review finds serious problems in PPI complaints handling
The Financial Conduct Authority (FCA) has found serious problems with complaint handling decisions and communications to customers at two thirds of firms reviewed in a payment protection insurance (PPI) investigation.
The regulator warned that one medium sized firm has already been referred to enforcement as a result of the review and that it was considering whether a number of others should also face further action.
The news came as the FCA published the findings of a complaints handling review of 18 medium and small sized firms currently handling payment protection insurance (PPI) complaints.
The review covered smaller high street banks, building societies, credit card providers and personal loan companies
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