FOS receives record-breaking number of PPI complaints
The Financial Ombudsman Service (FOS) has published its annual review covering the 2010/11 financial year.
A majority (51%) of new cases were about the sale of payment protection insurance (PPI) with the number more than doubling to 104,597 - the highest amount ever received in a year about a single financial product.
The review showed that during the financial year the ombudsman handled over a million front-line enquiries and complaints from consumers - around 4,000 each working day.
Around 1 in 5 of the initial consumer enquiries the FOS received turned into a formal dispute requiring the
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