Mr Regulator, why the deathly silence on PPI?

There's been an avalanche of data coming out over the last month or so from the Financial Conduct Authority (FCA) and the Ombudsman showing that banks are continuing to turn a blind eye to settling PPI complaints. But the most startling feature is the deathly silence of the regulator on the issue. It seems that the FCA, for all its chest-beating bluster about championing the rights of financial services consumers, like its predecessor the FSA is choosing in Nelson-like fashion to put the telescope to its blind eye and see no problems. Let's start with the most recent data first. The amou...