Emma RadmoreThe FOS has published the complaints figures for the first half of 2024. The figures show a rise of over 40% compared to the same period last year, with over 130,000 complaints being received. The increases, and year on year percentage increase, continues to be led by banking and finance complaints, often about credit cards and unaffordable lending. Over half the banking and finance claims were brought by professional representatives – again showing an increase. The FOS reminded consumers they can complain directly for free.
Key statistics show:
- over 100,000 banking and credit complaints in the period;
- a slight reduction in complaints on most other areas; and
- a 35% uphold rate compared to 37% last year.
The FCA has also published the aggregate complaints data for the half year, which bring some different results because the FCA compared them to the H2 figures from last year, including:
- a rise overall in percentage terms in complaints about investment, insurance and pure protection products;
- a decrease, in fact, on banking and credit card complaints; and
- decreases in complaints about current accounts, motor and transport and credit cards, which are the 3 most complained about products.