PPI-related complaints show signs of levelling off

Online insurance policy

The second half of 2012 saw another new high for complaints to the UK financial services regulator, the Financial Conduct Authority (FCA, formerly the Financial Services Authority), with 3.4 million complaints between July 1 and December 31. Again, the bulk of the complaints – 2.2 million – related to mis-sold payment protection insurance (PPI) products, continuing a trend that looks set to cost the UK banking industry over £11 billion.

But while the PPI complaints figure also represents a new

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