Complaints To UK Ombudsman Surge Despite PPI Slowdown

Law360, London (May 26, 2021, 1:02 AM BST) -- Britain's financial ombudsman said on Wednesday that it has seen a surge in the volume of complaints it received from consumers in the past fiscal year despite a significant drop in claims about payment protection insurance, which has been tarnished by scandal.

The Financial Ombudsman Service said that the number of new complaints it had received increased by 2% in the 10 months to March 2021 compared with the year before. But that figure surges to a 58% increase when complaints about payment protection insurance, or PPI, a type of credit cover that caused a widespread misselling scandal, is taken out....

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