2.9 million complaints recorded by financial firms in the first half of 2013
Consumer complaints reported by financial services firms fell by 500,000 between the second half of 2012 and the first half of 2013. Data published by the Financial Conduct Authority (FCA) showed 2.9 million complaints were made in the first half of 2013, compared to 3.4 million complaints in the previous six months.
The five most complained about firms received a total of 1.3 million complaints in the first half of 2013 and they include: Barclays, Lloyds TSB, MBNA Limited, Bank of Scotland and Santander UK.
The FCA found 51% of the complaints reported in the first half of 2013 were upheld, with £2.55 billion of redress paid to consumers. Approximately 92% of the complaints reported in the first half of 2013 were closed in eight weeks, the highest percentage since this data was first published in 2006.
October 18, 2013
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