Record number of complaints to Ombudsman as PPI continues to dominate
The Financial Ombudsman Service has received a record number of complaints for the fifth year in a row as complaints about the selling of payment protection insurance (PPI) continue to pour in.
For the year ended 31 March 2012, the Ombudsman received 264,375 complaints, up from 206,121 the previous year.
Of these complaints, 157,716 were associated with PPI (60% of all new claims) and although the rate of increase in PPI complaints has cooled, it still increased by 51% on 2011.
Complaints about the miss-selling of PPI now make up 25% of the 1.43 million complaints received by the Ombudsman since it was set up in 2000.
It appears that claims management companies are also the source of
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