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'Significant proportion' of PPI complaints upheld

Complaints about banks and other financial firms have reached their highest level ever.

The Financial Ombudsman Service, which settles disputes between financial firms and their customers, says new complaints rose 15% in the first six months of 2013 to over 320,000.

The majority of these, 86%, relate to PPI - or payment protection insurance - which was widely mis-sold for a number of years.

Caroline Wayman, principal ombudsman and legal director at the service, told BBC Radio 5 live Breakfast's Adam Kirtley: "We're still upholding quite a significant proportion of these complaints."

  • 03 Sep 2013
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