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Ombudsman still receiving 1,000 complaints a day on PPI mis-selling

Complaints now dropping off for all banks except MBNA and HSBC, according to figures released by the regulator

15 March 2014
PPI Review

More than 1,000 complaints a day about mis-sold payment protection insurance (PPI) continue to be sent to the Financial Ombudsman Service despite a steep drop in numbers in the second half of 2013 compared with earlier in the year.

The ombudsman said the most complained-about financial institution in the second half of 2013 was Lloyds TSB, followed by Bank of Scotland, Barclays, MBNA and HSBC, though it said the ranking was not weighted for the number of customers each company has. The total number of complaints fell by 24% to 248,801 from 327,035 in the first half of the year. Only MBNA and HSBC saw an increase in complaints compared to the earlier period.

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