The number of PPI complaints the Financial Ombudsman Service (FOS) received fell by approximately half, year-on-year to 204,943 for its financial year ending March 2015.
Despite this drop, PPI complaints still made up 63% of all new complaints.
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Larger companies accounted for the vast majority of complaints, and 58% of all complaints involved four of the largest banking groups.
Overall, there were 9,572 complaints about consumer-credit products and services, including hire-purchase and debt collecting (among other things). This was up 25% year-on-year.
Of this number, 1,784 complaints were about hire purchase (up 18% year-on-year),1,582 complaints were about point-of-sale loans (up 12% year-on-year). Credit broking grew by the largest amount in the sector, up 87% year-on-year to 1,213 complaints.
GAP insurance complaints, a topic currently under consideration by the Financial Conduct Authority (FCA) fell 17% in this period, to just 206.
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By GlobalDataTotal enquiries to FOS were also down. They fell from 2,357,374 enquires in the previous period to 1,786,973. Of this number, approximately one in five resulted in a more detailed investigation, meaning the FOS received a total of 329,509 new complaints in the period.
Chief ombudsman, Caroline Wayman, said: "The world has moved on and changed significantly since I first joined the ombudsman as an adjudicator in 2001. Yet our workload over the last 15 years has been constantly dominated by the past – clearing up the fall-out of the mass claims and mis-selling scandals of the last decade and a half."
