News Column

Fall in PPI complaints leads to 42pc fewer disputes with banks

September 3, 2014

JOSEPH MILLIS



A DECLINE in the number of disputes about the mis-selling of loan insurance in the first half of 2014 has led to a fall of nearly 42 per cent in total complaints against British banks, figures released yesterday by the banks' ombudsman reveal.


The Financial Ombudsman Service said it received 191,000 new complaints during the period, compared with 327,000 in the same period the previous year.


Complaints about payment protection insurance (PPI) fell to 134,000 from 266,000 in the same period last year, but still accounted for 70 per cent cases.


Lloyds Banking Group attracted the greatest number of complaints, with 26,209 over the period, down from 36,954 in the previous half.


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Source: City A.M. (UK)


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