PPI complaints continue to taper in late 2013

£14.8 billion paid out but growth is slowing


New complaints over mis-selling of payment protection insurance (PPI) by UK banks continued to dwindle in the second half of 2013, according to data released by the UK Financial Conduct Authority (FCA). The numbers are still high by historical standards – 1.4 million PPI complaints out of a total of 2.5 million complaints in July–December 2013 – but banks will be cheered that the pipeline of new complaints applying for compensation is gradually drying up. PPI still represent