Today, the British Financial Ombudsman Service released its latest six-monthly consumer complaints data linked to banks, insurance companies and other financial businesses. The data encompasses 165,406 new complaint cases about 219 businesses handled by the Ombudsman between July and December 2017.
These are the central results:
All in all, the total number of complaints has decreased by 3 percent when compared to the first half of 2017 (170,083 cases).
Once again, payment protection insurances (PPI) continue to be the most complained about product – the 92,231 cases constitute more than half of total complaints. This is a 3 percent increase compared to the beginning of 2017 (89,513 cases).
Moreover, consumer credit complaints have continued a previously observed upward trend and now amount to a share of 11 percent with a total of 16,328 cases.