Consumer Groups Call On Banks To Take Responsibility For Higher PPI Numbers

May 30, 2016
by admin in PPI News

Official figures from the Financial Ombudsman indicate the scandal still has about 4,000 PPI claims it deals with weekly. The Ombudsman said it received a total of 340,899 new complaints in the previous financial year alone.

Chief Ombudsman Caroline Wayman said it was to be “a  year of big numbers and big changes for everyone”

“But we mustn’t lose sight of the lives and livelihoods behind every complaint we resolve.

“That’s why preventing mistakes of the past from happening again will help restore trust and fairness in financial services.”

Alex Neill, Which? Director of Policy and Campaigns, said banks themselves should take more responsibilty.

He said: “The huge number of PPI complaints still going to the ombudsman is yet more evidence that the systems the regulator and banks have put in place have not worked.

“Too many people have been driven to use claims management companies that are taking a large proportion of the compensation they are owed.

“Banks and other providers must make the process simpler and easier for customers to claim directly, or pick up the tab when consumers use claims management companies to get back the money they are owed.”

Which? and had called on banks to take on the responsibility of simplifying the PPI claims process as the PPI deadline approaches.