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Banks refusing to handle PPI complaints, says FOS

Some UK banks are refusing to handle complaints about Payment Protection Insurance (PPI), it has been claimed.

The Financial Ombudsman Service (FOS) has revealed that a select group of firms are currently putting all complaints about the policies on hold until the outcome of a judicial review into new rules on PPI is resolved in January.

This has led to the FOS receiving around 2,500 complaints a week about the mis-selling of PPI as many banks won't deal with them themselves.

"Many businesses are continuing to handle complaints as normal but some have decided that they will not respond substantively to many PPI complaints until the final legal outcome is known," the FOS said.

"Where businesses do not set out clear views on cases, it will be difficult for our adjudicators to resolve cases informally. Inevitably this can only result in further delays and additional costs."

The body added that consumers should only refer their cases to it once a bank has failed to respond after eight weeks notice.

Posted by Amir Hussain

Amir specialises in personal loans, consumer debt and debt management ADNFCR-2776-ID-800302267-ADNFCR

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