Banks and financial services firms paid out £2.55 billion to customers in redress payments in the first half of 2013, new figures from City watchdog the Financial Conduct Authority (FCA) reveals.
Consumer complaints reported by financial services firms fell by 500,000 between the second half of 2012 and the first half of 2013.
- 2.9 complaints were made in the first half of 2013, compared with 3.4 million in the previous six months
- 51% of complaints reported in the first half of 2013 were upheld, with a £2.55 billion of redress paid to consumers
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