Ombudsman reports 30% rise in complaints

Overall, the FOS dealt with 123,089 new complaints, reversing the decline seen during the previous year. Many of the disputes were over bank overdraft charges and payment protection insurance (PPI), while half of all complaints were related to just six of the UK’s largest financial institutions. The number of complaints about current account charges increased ten-fold, reflecting major media coverage of a recent High Court test case. PPI complaints increased six-fold, with most complaints now relating to how policies are sold, where previously consumers had complained about rejected c...