UK banks, cards, subject to increased complaints
By UK CreditCards.com
Published: 6 October 2009
A report from the Financial Ombudsman Service (FOS) has named the credit card providers and banks that are the subject of customer complaints.
The organisation said that it received around 70,000 new complaints over the first six months of 2009.
Five large high street banks, the Lloyds Banking Group, Barclays, Royal Bank of Scotland, Abbey and HSBC, accounted for over 50% of the total.
Meanwhile, FOS said that it had found in the customer's favour in around six in ten of all cases. This total went up to around 90% for credit card firms Capital One and Egg.
Christopher Kelly, the organisation's chairman, commented: "I will now be writing to the chairmen of the financial businesses that generate the largest proportion of our complaints workload, to ask them to consider very carefully both their own complaints performance."
FOS now plans to publish complaints data at six-month intervals. The new report is the first time that individual firms have been named as the source of complaints.
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