Posts Tagged ‘complaints’
Lloyds confirms it will cease selling PPI
Banking giant Lloyds has confirmed it will no longer sell the controversial payment protection insurance (PPI).
Lloyds Banking Group, which is 41% owned by the taxpayer, is the first bank to drop PPI sales and the decision will apply to customers of all its brands including the Halifax, Bank of Scotland and the Cheltenham & Gloucester.
Under [...]
FOS sees rise in PPI complaints
The Financial Ombudsman Service (FOS) said it dealt with a total of 925,095 queries from consumers in the last financial year – a 46% increase on the previous financial year.
However, it said it resolved a record number of disputes (166,321) and in 50% of these cases, consumers were awarded compensation.
It did highlight, though, that [...]
Bank complaints double on overdraft charges backlog
Over two million consumers complained to their bank during the second half of 2009, more than twice as many as during the first half of the year.
Between July and December 2.65 million people made a complaint about a financial company, with 2.2 million of those directed at banks and building societies.
The FSA said the sharp [...]
FSA exposes banks’ disdain for customers
Senior managers of the UK’s high street banks have been labelled a “disgrace” for failing to take customer complaints seriously.
The Financial Services Consumer Panel (FSCP) said the way banks handle customer complaints is “lamentable”.
The comments came after a review by the Financial Services Authority (FSA) found that senior staff in the majority of the UK’s [...]
FSA examines complaint handling at RBS
The Financial Services Authority (FSA) is to investigate the way Royal Bank of Scotland (RBS) deals with customers’ complaints.
The City Watchdog is to examine “certain aspects” of the way the bank deals with complaints but the bank has said it would fully co-operate.
A spokeswoman for the FSA said: “We are looking at all of [...]