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PPI claim: PPI remains most complained about banking product

Payment protection insurance (PPI) still attracts the most complaints out of all banking products.

This was revealed in a report from the Financial Conduct Authority (FCA), which looked at complaints made by consumers between July and December of last year. Complaints against PPI were up by five per cent during this time compared to the first half of 2012.

Current accounts were the products that received the second highest amount of complaints.

The report also found that Barclays was the bank that attracted the most complaints but that these were down by six per cent. It was followed by Lloyds TSB, which had seen a 19 per cent reduction in the number of complaints it received.

PPI has become the most complained about banking product since a landmark court case in 2009 found it had been widely mis-sold.

The Financial Ombudsman Service still receives thousands of complaints per week about PPI.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801571359-ADNFCR



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