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PPI most complained about financial problem

Payment Protection Insurance (PPI) was the most complained about financial issue in the first half of 2010, according to new figures.

The Financial Ombudsman Service (FOS) has received 30,000 complaints from consumers who have been mis-sold the policies.

The body received three times more complaints about PPI than the combined totals for mortgages, investments, and pensions.

Overall, 84,212 new complaints were made to the FOS about financial institutions between January and June, a rise of three per cent compared to the final six months of last year.

Natalie Ceeney, chief Ombudsman at the FOS, said: "The latest set of complaints data shows that some businesses are really committed to ensuring that complaints are handled well, and are used to inform and improve the service they offer their customers.

"However, the complaints data also shows there is still more that some businesses need to do to ensure that complaints are properly investigated and fairly resolved."

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt. ADNFCR-2776-ID-800068504-ADNFCR



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