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PPI claim: Are banks upholding PPI claims?

PPI refunds may be harder to come by than previously thought, with reports suggesting banks are rejecting complaints.

The Daily Telegraph reported the Financial Ombudsman Service (FOS), which deals with cases rejected by banks, is still upholding the majority of grievances.

"If claims were being resolved in the first instance, it would be better for everyone concerned," a spokesman for FOS told the newspaper.

The revelation comes after it was revealed the PPI scandal is turning out to be the biggest case of mis-selling in British history.

A report from the Financial Conduct Authority (FCA) found that PPI is still the subject of the largest volume of complaints out of all banking products.

In the second half of 2012, complaints were up by five per cent, compared to Q1 and Q2.

Current accounts have also been identified by consumers as one of the main areas of complaint, taking second place on the FCA's grievance list.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801575948-ADNFCR

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