PPI complaints continue to fall as banks hasten payouts

PPI complaints continue to fall as banks hasten payouts

falling rates

A 2013 drop in the level of complaints about mis-sold payment protection insurance (PPI) products led to the first fall in total complaints received by the UK Financial Conduct Authority (FCA) since 2009. In the first half of 2013, the regulator received 2.9 million complaints – still high by historical levels, but down from the H2 2012 total of 3.4 million. PPI still represents the majority of complaints against financial institutions (61%) but the number of PPI complaints dropped to 1