Consumer complaints to the Financial Ombudsman Service(FOS) are still overwhelmingly linked to mis-sold payment protection insurance, with investment products sparking relatively few grievances.
Out of a total 81,301 complaints for the quarter April to June, PPI accounted for 69% with some 56,025 issues lodged. Just over half (55%) of the PPI-related grievances were resolved in favour of the consumer. By comparion to the flood of PPI complaints - a product largely sold by banks and which has cost them billions in compensation costs - the number of grievances related to investment products and services were tiny. Of these, mortgage endowments attracted the most complaints for the period with 603. Whole of life polices (393 complaints) and personal pensions (347 complaint...
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