Over 50% of PPI complaints now done without claims firms

What does the FCA say?

Jonathan Davidson, executive director of supervision, retail and authorisations, said: “We are encouraged by the results of the first 10 months of the campaign.

“However, with less than a year until the deadline, we will carry on working hard to ensure every consumer has had the chance to make a decision on whether to complain about PPI. Since 2011, more than £30 billion in redress has been received by consumers.

“Where we have seen firms failing to meet the standards we expect, we have challenged them to make improvements.”

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