Complaints about banks, building societies and insurance companies shot up 59% in the first half of this year.
The unprecedented rise was largely driven by a 129% increase in complaints about mis-sold PPI policies.
While lenders should be contacting consumers they think may have been wrongly sold payment protection insurance, if you suspect you were one of them you should be proactive about making a claim.
There are three important things you should remember if you do:
You can claim direct, it's not difficult, and you don't need to pay a third party to do it for you
Read our guide How to Reclaim PPI Charges to find out exactly what you need to do and say to maximise your chance of getting your complaint heard.
The Competition Commission will be looking into concerns about the way it treats customers. The OFT has decided that the way insurers arrange repairs for 'not at fault drivers' seems to be unfair and anti-competitive, often resulting in the victim paying far more than they need to. The situation won't be remedied quickly as the Competition Commission can take up to two years to investigate, but they will have the power to fix any and all issues they find once they come to a decision.
It shrank by 0.4% instead of 0.5% according to revised figures from the ONS. While we are still stuck in recession, the news has ignited hope that the state of the UK economy isnt quite as dire as previously thought. That said, Britain did run up the biggest current account deficit ever during the same period - it totals a whopping £20.8 billion.
It was given the national go-ahead from Ofcom this week. This means that your postman will leave certain mail with your neighbours if you're not in to sign for it. It is possible to opt out of the scheme if you don't want your mail dealt with in this way - just fill in a short form on the Royal Mail website and they'll send you a sticker to display on your front door.
The much anticipated accounts are a big part of its bid to take on the 'big banks'. The fee-based accounts are among the most expensive on the market, but M&S hope their promise to offer benefits worth up to £500 will win over the masses.
That's according to a new report from the Department of Transport. Their figures on road casualties reveal that 42% of all accidents happen because the driver failed to look properly, however 5% are down to drink driving.
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