MP hits out after financial services complaints double

David Ruffley MP
David Ruffley MP
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The numbers of people complaining about financial services in Suffolk shows the industry ‘has more work to do’, an MP has said.

Bury St Edmunds MP David Ruffley, a member of the Treasury Select Committee, said on Monday that new figures showed the number of his constituents complaining to the Financial Services Ombudsman in 2013 was almost double the 2012 figure.

He added: “ In 2013, 1,144 Bury residents contacted the FOS helpline. This led to the FOS investigating 616 complaints - and around half of these were upheld

“The FOS found that these customers had not been treated fairly by banks or other financial companies – and so they all received some kind of compensation.

“These figures for my constituency show that the financial service sector, which is a big contributor to the East Anglia, has more work to do.”

He said complaints about payment protection insurance made a large proportion of the increase.

Mr Ruffley felt that while it was ‘disappointing’ customers had to complain, it was encouraging that they were increasingly turning to the FOS who were investigating.