Ombudsman reports sharp drop in PPI complaints
The Financial Ombudsman Service (FOS) has revealed a 66% drop in payment protection insurance (PPI) complaints in its quarterly complaints report.
However the figures also show the FOS upheld 92% of consumers’ PPI mis-selling complaints between July and September 2011.
PPI was the subject of 38% of the total complaints made concerning financial products, making it by far the most complained about. The next was credit card accounts, the subject of 11% of the total.
Philippa Handyside, strategic business services senior associate at Pinsent Masons, said: “While the drop in PPI complaints to the FOS is significant and indicates that the peak
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