...............financial firms handling PPI complaints

A review into Payment Protection Insurance claims handling by the City watchdog has found serious failings with the way some small to medium-sized financial firms deal with them. The Financial Conduct Authority probed 18 smaller high street banks, building societies, credit card providers and personal loan companies, which account for roughly one million complaints – or 16 per cent of all PPI gripes. It says there is ‘significant’ room for improvement for two thirds of those that came under its spotlight – however, it won’t name the failing companies in question. Its review found some firms are handling complaints in line with its expectations - but the FCA stated that others have serious problems which need to be corrected. It added that it is working closely with firms to help improve their complaint handling processes to a level that consumers would expect and to remedy any harm that may have occurred......Read more here