PPI Complaints Keep Rolling In 2010

26/02/2010 by Bradders.

In the latest set of figures released by the Financial Ombudsman a similar pattern is starting to emerge. Like the serial criminals it’s the same old faces turning up for the ID parades year after year. And just like the judges sermon at the end of each case when he says ‘I’m sure I will be seeing a lot more of you in the future’. Like the well worn policeman and the cynical old judge the FOS must now be wondering what steps they need to take to bring these culprits into line    

Once again it’s our friends at the banks that continue to generate a high number of ppi complaints. In the six-month period from July to December 2009, 9,952 new complaints were received against Lloyds TSB, 9,836 against Barclays and 7,349 against Bank of Scotland. The very same sort of numbers were reported by FOS for the first half of the year so nothing changes Breaking down new complaints against the banks by category, FOS revealed that a high percentage related to general insurance.

This includes payment protection insurance (PPI). For Black Horse, a subsidiary of Lloyds, 82% of new complaints fell into this category, for Royal Bank of Scotland (RBS) it was 66% and for Lloyds TSB 49%. The proportion of insurance complaints was 26% for Barclays.   Reporting the number of consumer complaints it upheld in the last six months of 2009, FOS revealed some astonishingly high figures for insurance claims against banks.

For National Westminster the rate was 77%, HSBC and RBS 79%, Lloyds TSB 89%, Northern Rock 92%, Black Horse 94%, Barclays and The Co-operative Bank 96%. For MBNA it was an unbelievable 99%.Commenting on the new figures, David Thomas, interim chief ombudsman, said: ‘The data we have released today clearly shows that some businesses still need to do more to ensure that they deal with their customers’ complaints effectively and fairly – so that consumers do not then need to escalate their dissatisfaction to the ombudsman.Brad Martin of Claimline UK says ‘Yet again the major banks are treating the FOS as a complaints department. Far be it for me to tell the Ombudsman what to do but I still think a £1000 fine should be attached to every case that has been cynically refuted. I believe the banks would then start looking at the ppi complaints a little more positively and save everyone time and trouble www.claimlneuk.co.uk   

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