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PPI Claims rising at an "unprecedented" rate, says Financial Ombudsman Service

5th March 2013

It has been revealed today that the Financial Ombudsman Service is now taking on upward of 2,000 claims per day, as banks continue to struggle to deal with the large volume.

Chief Ombudsman Natalie Ceeney has said, "The number of PPI complaints has continued to increase at unprecedented levels. As the complaint levels show no sign of slowing, consumers are increasingly having to wait longer to get their complaints sorted - with many businesses still continuing to cause unnecessary delays."

She continues, "Where businesses have shown a real commitment to better customer service and diligent complaints handling - including actively engaging with the ombudsman - cases are resolved more quickly and easily, to the benefit of everyone."

The news comes as Lloyds Banking Group and HSBC have all increased their provisions for refunding PPI claims. Despite this, Lloyds had the highest number of claims referred to the Ombudsman in the second half of 2012, with FOS ruling in favour of clients in over 86% of cases.

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Posted in PPI, Mis-selling Scandal, UK, Banking, Payment Protection Insurance

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