FOS PPI Complaints Fall - and Fail

magpiecottage

It seems that between July and September 2014 there were about 57,000 new PPI complaints at FOS - about half as many as the same period in 2013.

Of complaints resolved, 49% were upheld - so FOS is now rejecting more PPI complaints than it upholds.

See here.

[Deleted User]

I think the peak number of PPI complaints has long since been reached.I would imagine FOS are rejecting more proportionately because the cases being presented are now less compelling than in the early days.

PPI still accounts for two-thirds of complaints received by FOS.

Insider101

Moneyineptitude wrote: »

I think the peak number of PPI complaints has long since been reached.I would imagine FOS are rejecting more proportionately because the cases being presented are now less compelling than in the early days.

PPI still accounts for two-thirds of complaints received by FOS.

It's partly that and partly the fact that the main banks have long since hired specialist policy teams to study FCA rules and previous FOS decisions. They therefore have a much better idea of what FOS will and won't uphold and can decide accordingly at first stage.


Of course, there are still a fair number of legitimate borderline cases which could go either way and the virtual 50/50 split reflects that.