THE FINANCIAL ombudsman – set up in 2001 to settle disputes between consumers and businesses – took on 161,649 new cases in the second half of 2014, figures published today show.
Cases refering to payment protection insurance (PPI) comprised the majority of the cases with a total of 104,877 new complaints. Cases against the UK’s biggest banks dropped significantly.
The ombudsman ruled in favour of consumers in 52 per cent of cases in the second half of 2014.
“PPI complaints still make up the bulk of the ombudsman’s workload and resolving these cases remains a priority,” said chief ombudsman Caroline Wayman.
“Although it’s good news that complaint numbers are starting to level off, we have seen a change in the nature of the PPI complaints people are asking us to resolve – which are becoming increasingly hard-fought and more complex,”