Banks still stalling over PPI complaints

23 February 2016

Bank Even though the PPI nonsense is set to come to an end, it looks like our beloved financial institutions are still stalling when it comes to dealing with the swathe of customer complaints.

This is according to the figures from the Financial Ombudsman, which show that complaint figures over mis-sold PPI are still high, even though there's a huge amount of rulings going against the banks.

It looks like finance businesses are stalling, in a bid to wear down those who have made complaints, in the hope that they'll stop trying to get their compensation. In the past, the Ombudsman's figures have shown Lloyds Bank to be one of the worst offenders.

Yesterday’s figures show that a whopping 78% of the PPI complaints against them were upheld between July and December 2015. And yet, it looks like Lloyds aren't making much of an effort to correct their own wrongs with customers.

It isn't just banks - credit card companies are also slacking when it comes to sorting out PPI errors. 74% of cases against Capital One were upheld, and 69% of cases against MBNA also went against them.

In 2016, we're approaching a massive £30bn bill for compensation regarding the PPI scandal. While the Financial Conduct Authority are looking at a Spring 2018 deadline, irritatingly, the financial institutions attitude to all this seems like there's no sign of it going away any time soon.

Here's our guide to making your own PPI claim, for free

TOPICS:   Banking   Debt

1 comment

  • Paul
    Yorkshire Bank are getting worse for stalling. It has been 4 months since they handed over my complaint. They have until the end of the week now to reply otherwise off to the Ombudsman I go

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