From The BBC:
More than nine million individual complaints were made to firms in the financial services industry in the 2006-2008 period, figures have shown.Banking and loans accounted for more than half the formal complaints made to financial companies in that period. The Financial Services Authority (FSA) has published the complaints figures for the first time. During the second half of 2008, 40% were being settled in the customers’ favour. The figures have been driven by huge numbers of complaints about bank overdraft charges, and the mis-selling of payment protection insurance and mortgage endowments. “Publishing this information will mean that consumers and firms can now see how many complaints the industry receives and how it deals with them,” said FSA director Dan Waters. Individual companies will start to publish their own complaints data from July 2010. ‘Unhappy customers’The total number of complaints rose from 2,727,000 in 2006 to 3,411,000 in 2007 before dropping back last year to 2,903,…
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