.........Consumers complain to the Financial Ombudsman
Originally posted by 5corpio
One million consumers complain to the Financial Ombudsman

The Financial Ombudsman Services investigated a record number of disputes last year, as more than 200,000 consumers lodged formal complaints about banks, insurers and investment companies.

In its annual report – published this morning – the Ombudsman said it was fielding about 4,000 inquiries a day from disgruntled consumers - a total of more than one million a year.

The biggest source of complaint was the sale of payment protection insurance, which has been routinely sold to cover loan and credit card repayments.

Complaints about this insurance accounted for more than half of all new cases seen. The Ombudsman said the organisation had never seen so many complaints about a single product within the space of a year.

But this isn't the only financial product that is causing problems for consumers. There has also been a sharp increase in the number of complaints about other types o...........Read more HERE