FSA to challenge BBA over PPI complaints

The regulator has described the package of measures outlined in policy statement 10/12 as "a sensible and fair solution for consumers and the industry alike". In 2009/2010, 49,196 complaints were referred to the FOS regarding PPI, with 90% being upheld in the complainant's favour, while over one million complaints have been made to firms. The FSA says: "In the interests of consumers, firms will be expected to continue handling complaints while this process is ongoing. "If consumers are unhappy with how their complaint has been handled they may refer it to the Financial Ombudsman Se...