Payday lenders

Ombudsman chief: Firms must learn from complaints

BBC Radio 5 Live

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Complaints against payday lenders have soared to a five year high, the Financial Ombudsman Service has said.

Complaints against banks were up 8% too last year.

Caroline Wayman, chief ombudsman and chief executive of the Financial Ombudsman Service, tells Wake Up to Money that financial services firms need to "take the lessons from the complaints that we see."

"One of the key messages is about listening to waht happens, listening to your customers and learning from complaints that things don't keep repeating," she says.

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