MSE News: PPI remains most complained-about product as claims deadline looms

Legacy_user

Problems with PPI still make up more than half of all complaints received by the Financial Ombudsman Service...

Read the full story:
'PPI remains most complained-about product as claims deadline looms'

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dunstonh

A correction in your figures. Current accounts were second in that period with 4014 complaints. Packaged bank accounts were third with 3785 complaints.

The article appears to be missing the uphold rate on packaged bank accounts. Not sure if that is by accident or because it is such a low figure at just 16% which could deter people from complaining given the low likelihood of success.

Also, my understanding is that the ombudsman column is where an ombudsman makes a decision rather than an adjudicator. Your article indicates it is the FOS itself (both adjudicator and ombudsman). I may be wrong as there appears to be no key to the figures to confirm. However, to put that the figures in context, there were 186,994 new cases in the whole of 2015/16 but the ombudsman column shows 13,561 were looked at. It would take 14 years to look at 2016/16 cases alone at that rate. That is clearly not happening. The FOS itself (adjudicators and ombudsman) are looking at more than 13,561 PPI cases a year.

Former_MSE_Faye

Thanks for flagging dunstonh - the article's been corrected.