Lloyds most complained about bank in first half, Financial Ombudsman reveals

Lloyds most complained about bank in first half, Financial Ombudsman reveals”

Despite continuing to top the FOS's adviser list, the 100 complaints Sesame received in the first half of this year are fewer than the 104 in the second half of 2016 and well down on the 160 complaints the business received in the same period last year.

The actions of a single adviser saw the number of complaints against Openwork upheld soar at the start of this year.

The average uphold rate (where the ombudsman found in the consumer's favour) for all businesses over the six-month period was 36% - and ranges from 3% to 79% across the individual businesses. The majority of complaints related to mis-sold PPI, with the bailed-out lender having sold more such policies than any of its peers. The number of complaints jumped 14 per cent from 78,375 to 89,513.

Last month the Financial Conduct Authority ruled that all PPI claims will have to be lodged by 29 August 2019. That said, complaints about banking and credit have increased by 12% to around 47,000.

The biggest increase in this category was complaints about current accounts which jumped 35 per cent from 7,976 to 10,799.

In the first six months of 2017 the watchdog received more than 20,500 complaints about the Bank of Scotland.

It was followed by Lloyds Bank, part of the same group, at 18,068, and Barclays, with 15,405.

Lloyds Banking Group (LON:LLOY) was the most complained about financial firm in the first half of the year, the Financial Ombudsman Service has said.

One consumer campaigner said the ombudsman's figures show there are still "endemic problems with the way banks and insurers treat their customers".

According to the spokesman a deal was finalised between Openwork and the Financial Ombudsman Service in March and this is what "significantly affected" the current six month position. A decade on from the financial crisis it seems the cultural change the industry promised has not come to light'.

Like this



05 September 2017
Ford unveils all-new EcoSport
The EcoSport has registered an enormous success in India and is pretty much what started the compact SUV trend in the country. The revamped second generation EcoSport was unveiled earlier this year in Brazil where the model was originally developed.

05 September 2017
'Angry Birds' owners to go public after movie success; raise 30m euros
The company said it hopes the IPO will boost growth, strengthen brand recognition and allow it to use shares to make acquisitions.

05 September 2017
How Analysts Rated Golar LNG Limited (USA) (NASDAQ:GLNG) Last Week?
Dan Friedberg decreased its stake in Brinks Co (BCO) by 75.5% based on its latest 2016Q4 regulatory filing with the SEC. The firm has "Buy" rating given on Friday, August 28 by Stifel Nicolaus. 19,465 are held by Fayerweather Charles.

05 September 2017
Could later school start times boost the USA economy?
Data for vehicle crash fatalities reveal that around 20 percent involved a driver impaired by sleepiness, drowsiness or fatigue. The first state-by-state analysis of the economic suggestions has released from RAND Corporation and RAND Europe.

05 September 2017
Forecasters say Hurricane Irma could hit Florida by Friday
Irma is set to hit the Puerto Rico on Wednesday, the National Hurricane Center ( NHC ) said. Hurricane Irma is very strong, and headed west.

05 September 2017
Conservative MEP secures Irish passport because he is 'ashamed to be British'
A Conservative MEP has said he is "ashamed to be British" and has secured an Irish passport in response to the Brexit result. Tannock said his interest in his Irish past was always at the back of his mind but has now been reignited.

05 September 2017
Important Factors to Analyse a Good Investment: Southwestern Energy Company (SWN)
Southwestern Energy Company (SWN ) belonging to the Energy sector has surged 4.22% and closed its last trading session at $5.68. Pinnacle Associates Ltd. acquired a new stake in Southwestern Energy during the first quarter valued at approximately $103,000.

05 September 2017
Lady Gaga postpones Montreal concert citing ill health
Lady Gaga has gushed about her new boyfriend Christian Carino at a NY concert, telling fans she is "in love". Her next performances are scheduled to take place in Toronto at Air Canada Center on Wednesday and Thursday.

05 September 2017
GDP growth welcome but not enough to create jobs - FEDUSA
In addition, first-quarter 2017 GDP was revised downwards, "so the picture is weaker than expected". South Africa had been in a technical recession given the contraction for two consecutive quarters.

05 September 2017
United Nations fails to move against North Korea on hydrogen bomb test
Security Council meeting, South Korea's ambassador, Cho Tae-yul, urged North Korea to take the path of denuclearization. Peskov also said that Putin was aware of a USA decision to take over Russian diplomatic property in the United States.