The Financial Ombudsman Service (FOS) has published its annual review of consumer complaints in respect of insurance, banking, credit, savings and investments for the financial year 2014/15.

The annual review contains the following key statistics:

1. Since 2001, the FOS has answered 15 million consumer enquiries and taken on 2.8 million disputes between financial businesses and their customers. 1.3 million of these complaints were about payment protection insurance (PPI). PPI still makes up 66 per cent of the FOS’ workload, despite the numbers having halved since the peak in 2013/14;
2. 55 per cent of the cases resolved in 2014/2015 were found in the consumer’s favour; and
3. Four of the UK’s largest banking groups accounted for 58 per cent of all complaints received.

Copies of the press release; http://bit.ly/1c4mJoc

the review and http://bit.ly/1IL7uz0

a video are available. http://bit.ly/1FnLzKm