PPI complaints followed by concerns around current accounts and credit cards
45% of the complaints received by the Financial Ombudsman Service (FOS) in the three months to October were related to payment protection insurance, according to BBC reports.
PPI complaints topped the list of consumer complaints to the FOS, followed by complaints about current accounts (11%); credit cards (10%); mortgages (4%); overdrafts and loans (3%); motor insurance (3%) and deposit and savings accounts (3%).
The FSA has stopped the selling of PPI policies with unsecured personal loans involving an upfront one-off premium and taken action against more than 20 firms for mis-selling PPI.
The Insurance Times Fair Fees campaign is fighting to reverse the hike in the Financial Service Compensation Scheme levy paid by brokers, which is fuelled by PPI claims.
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