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New Reporting Rules Fueled Spike In '17 Complaints, FCA Says

Law360, London (October 23, 2017, 11:37 AM BST) -- The U.K. Financial Conduct Authority on Monday reported a spike in financial services customer complaints in the first half of 2017, with payment protection insurance topping the list for the seventh year in a row.

The FCA recorded 3.34 million complaints from January through June, a 9 percent jump from 3.04 million in the same period during 2016. But it’s unclear whether complaints to banks have themselves risen or whether complaints are simply being more thoroughly documented following changes the FCA made to its reporting rules...
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