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More people complaining about payment protection insurance

An increasing number of people complained about payment protection insurance (PPI) in the three months to December last year.

That is according to figures released by the Financial Ombudsman Services (FOS), which found that new complaints about payment protection during this period totalled 24,955, the Guardian reports.

This represents an increase of 5.5 per cent on the previous quarter, with PPI complaints in total up 17 per cent in the same period.

Overall, in the first three quarters of the FOS's current year, the number of PPI complaints made has now reached 59,795.

According to the news provider, new rules regarding PPI have yet to flow into its complaints data. However, the FOS has not ruled out the possibility of claims increasing further in the future.

Following PPI, the other areas where most complaints were seen were discrepancies about current accounts and credit cards.

The FOS was established in 2001 to help settle disputes between consumers and UK-based businesses providing financial services.

Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt.

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