Warning over PPI dispute delays
A record number of disputes regarding the mis-selling of payment protection insurance (PPI) will need to be resolved over the next year, as banks and insurers have subjected customers to "delays and inconvenience", a finance watchdog has warned.
Despite a legal challenge to PPI complaints being dropped last year, the Financial Ombudsman Service (FOS) said it was "disappointing" that a significant number of consumers are still waiting for businesses to clear up their cases.