FCA Data Shows Over 4m Complaints in 6 Months
Published / Last Updated on 20/10/2019
The Financial Conduct Authority (FCA) data published today showing in the last 6 months that over 4 million complaints were made.
Reported Complaints:
- 49% on PPI products.
- 14% Current Accounts
- 8% Credit Cards
- 6% Motor and transport Insurance
There was a drop in non-PPI complaints of 6% to 2.18m in the first half of 2019 from 2.32m in the second half of 2018.
The average redress per complaint increased to £200 from £175 between the second half of 2018 and first half of 2019.
Comment
We live in an age of a complaints culture that will eventually kill off financial advice.