Complaints up despite PPI drop

Complaints to the Financial Ombudsman Service (FOS) about payment protection insurance (PPI) plunged 66 per cent in the three months to the end of September, compared with the previous quarter.

By The Newsroom

Published 19th Oct 2011, 01:21 BST

The fall in PPI mis-selling complaints followed a surge in May and June after the collapse of the banks’ challenge against new compensation rules. However, there were increases in complaints about deposits and savings (up 40 per cent), mortgages (37 per cent) and overdrafts and loans, up almost a quarter.