PPI Complaints Hit 2m in 2019

Surge in complaints to the regulator over PPI mis-selling ahead of the August 29 deadline, with many banks struggling to cope with high levels of complaints

James Gard 17 October, 2019 | 11:49AM

PPI FCA

PPI complaints made up nearly half of the complaints made to the FCA in the first half of this year, according to the latest data from the regulator.

The Financial Conduct Authority said that year on year, the number of complaints about PPI rose from 1.58 million to 2.12 million, a 34% increase – and this does not cover the period of the PPI deadline, which saw a rush of last-minute rush of applications. Out of 4.29 million complaints received by the regulator in the first six months of the year, 49% or 2.1 million, related to Payment Protection Insurance mis-selling.

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James Gard  is content editor for Morningstar.co.uk

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