The FCA has recently published a press release reporting that between July and December 2015, financial services firms received 2.11 million new complaints.
Overall, there was a decrease of 1.4% in the number of complaints from the January to June 2015 period. This is primarily due to 10% and 15% drops in complaints for current accounts and savings accounts respectively. PPI remains the most complained about product; when PPI is excluded, the number of overall complaints is significantly reduced to 1.17 million.
Although the total redress paid to consumers fell to £1.97 billion between July and December as opposed to £1.98 billion between January and June, the FCA notes that a further decrease in complaints and greater emphasis on working in the best interests of consumers is still required.