Tag Archives: complaints

FCA unhappy with consumer credit complaints handling – asks firms to take action

In a Dear CEO Letter, the FCA explains that it recently undertook a review of how consumer credit firms approach and deal with customer complaints. FCA reviewed data, final response letters and website information on complaints from a range of consumer credit firms. FCA found examples of good practice to the benefit of consumers but also found material non-compliance […]

FOS updates complaints data

FOS has published individual complaints data for H1 2017, relating to businesses in relation to which FOS both received and settled at least 30 cases during the period. FOS says these firms comprise around 95% of the total cases it handled. The highest levels of complaint related almost entirely to PPI claims, with the only other significant […]

FCA launches PPI campaign with help from ‘Arnold Schwarzenegger’

The FCA has today launched its PPI campaign with a television advert in order to raise awareness of the two year deadline to make a complaint about payment protection insurance. The deadline, which has been introduced by the FCA in order to prompt people to check whether they had PPI and whether they want to make a complaint, ends […]

FCA sets out its supervisory approach to PPI

The FCA has today announced that it will soon be launching a campaign to inform people of the 29 August 2019 deadline for making a complaint about PPI.  The campaign will contribute to the regulatory and supervisory work the FCA has already done around PPI and will continue to do. The campaign, which will be […]

Rise in complaints for PPI

This week FOS published its regular newsletter in which it discussed: a rise in consumer credit complaints; statistics on complaints received in the first quarter of 2017/2018; and an update on PPI and the FCA’s new rules and guidance FOS’ Annual Review The annual review published earlier in the summer by FOS identified that complaints about […]

ICO fines Moneysupermarket.com £80,000

ICO has fined Moneysupermarket.com Ltd £80,000 for sending 7.1 million unsolicited direct marketing emails over a period of ten days to update its customers on its Terms and Conditions. Crucially all the recipients of the emails had previously opted out of direct marketing, and Moneysupermarket sent the T&Cs by email which included a section noting the […]

FCA publishes thematic review on customer understanding of retailing banking products

On 17 July FCA published a thematic review on customers’ understanding of retail banking products. The review was undertaken amid growing concerns that some customers fail to understand the key features of many financial products and that this may expose them to harm. The review covered 18 firms, and involved FCA looking at the firms’ data […]

FCA publishes PBA complaints findings

FCA has published the findings of its review into how firms handle complaints about packaged bank accounts following its thematic review of October 2016. As it carried out the review, it looked particularly at recent complaints, made between March and May 2016, as it recognised improvements firms have been making to complaints handling. The findings did […]

PPI: the final countdown

We have written an article on the new timescale for handling PPI complaints, the FCA’s customer communications campaign and its new rules on writing to customers whose complaints have previously been rejected and the consequences of the Plevin decision.

FCA publishes first new-form complaints data

FCA has published the first set of complaints data (covering the second half of 2016) that firms have reported since last year’s rule changes that give firms 3 days to address a complaint to a consumer’s satisfaction but the data reflects all complaints. Because of the change in complaints captured, the figure (3.04m) is higher […]