FCA data reveals huge surge in PPI complaints

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Complaints about payment protection insurance (PPI) in the second half of 2017 soared to the highest level seen for more than four years, according to figures from the Financial Conduct Authority (FCA).

Complaints about PPI hit 1.55 million in the six months, up 40% on the first half of the year.

The FCA’s analysis is based on the data supplied to it by regulated firms.

The PPI increase meant that there was an overall 13% rise in complaints about financial services products to 3.76 million.

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