15th August 2012
Despite assurances from banks and other lenders that PPI claim refunds will be paid out promptly, the Financial Ombudsman Service has reported it is now dealing with over 400,000 additional complaints from consumers. A spokesman said that FOS is “disappointed” that lenders aren’t doing more to address these claims themselves.
Currently, FOS rules in favour of consumers in 7 out of 10 cases on average, a slight fall on 2011’s figure of 8 out of 10. It has been speculated that this is due to the increasing number of false claims submitted to lenders.
Posted in Financial Ombudsman Service, PPI, PPI Claims, Mis-sold PPI