FCA publishes aggregate complaints data for H2 2022

FCA has published its overview of complaints in the second half of 2022. Overall it found:

  • a decrease of 6% in complaints compared to H1, largely due to decreases in complaints about banking and credit cards, insurance and pure protection and invcestments;
  • the largest increase was in home finance product complaints, and there was also an increase in decumulation and pensions complaints;
  • current accounts have been the most complained-about product since H2 2106;
  • the uphold rate dropped from 61% to 60%, the first drop since H2 2019; and
  • the total amount of redress fell by 25% during 2022.

Emma Radmore