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PPI Complaints To Continue Rising

Barclays Bank has said that it expects complaints about Payment Protection Insurance (PPI) to continue to rise after a 93% increase in the first six months of 2011.

Complaints against banks rose dramatically after banks lost their challenge on PPI rules in April.

"We expect PPI complaint volumes to be greater in the second half of 2011 as we see an increased number of complaints following the outcome of the judicial review," said Barclays.
"Barclays is working hard to clear PPI complaints as quickly as possible; prioritising customers who were held up in the judicial review and resolving all complaints in a transparent and efficient manner."

Earlier this year Barclays announced that it had set aside £1bn to meet expected PPI costs and promised to compensate all customers who complained they had been mi-sold PPI before 20 April on a "no quibble" basis.

For more information about PPI read our Payment Protection Insurance page.

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