A 6% rise in complaints about the mis-selling of payment protection insurance (PPI) was offset by a decrease of 10% in current account complaints and a drop of 15% in savings account complaints.
When complaints about PPI are excluded, new complaints dropped by 4% to 1.17 million.
The total redress paid to consumers fell marginally to £1.97bn ($2.8bn, €2.5bn) during 2H15, down from £1.98bn in 1H15. Most (82%) of the redress was related to mis-sold PPI.
Life and Pensions
The firms with the highest number of complaints in the decumulation, life and pensions sector were:
The investment firms with the highest number of complaints in 2H15 were:
It should be noted, however, that the FCA aggregates the number of complaints made against each company, and does not produce figures reflecting the proportion of complaints in terms of the number of products offered or number of customers.
Christopher Woolard, director of strategy and competition at the FCA, said: “It is positive to see that the longer term reduction in the volume of complaints has continued into the latest period. Firms seem to have taken on board our previous feedback on levels of complaints and we are slowly seeing firms address these issues.
“However, firms still need to do all they can to reduce complaints and ensure that they are working in the best interests of consumers.”