Misselling Tops Financial Ombudsman Complaints In 2020

Law360, London (September 30, 2020, 1:23 PM BST) -- Britain's finance dispute resolution body said on Wednesday that it continues to receive more complaints about the scandal-plagued credit cover known as payment protection insurance than any other financial product.

The Financial Ombudsman Service, the body responsible for resolving disputes between consumers and finance firms, said it handled almost 41,500 new complaints about payment protection insurance, known as PPI, between January and June this year.

"PPI continues to be the most complained about product, with a total of almost 41,500 new complaints received in the first half of 2020," the ombudsman said. "We upheld 31% of complaints in the consumers' favor."...

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