PPI complaints deadline put back
Consumers have been given more time to refer a complaint about controversial payment protection insurance (PPI) to the ombudsman.
The Financial Services Authority said it was temporarily waiving the six month time limit in which people need to refer a complaint to the Financial Ombudsman Service after they have received their final response from the company involved.
The move, which comes into force from Friday and will run until October 27 this year, applies to people who received a final response from the firm they bought the cover from between November 28 last year and April 28, 2010.
The regulator said the action was being taken to ensure that people who had recently complained about the sale of PPI were not disadvantaged by running out of time to refer their complaint to the ombudsman.
It is currently working with the industry to ensure that customers are treated consistently and fairly when they complain about the sale of PPI and when they buy a policy.
PPI covers debt repayments if the holder is unable to work due to an accident or illness or if they are made redundant.
But it has come in for heavy criticism after research found it had been mis-sold to many consumers who would never be able to claim on it, while others felt pressurised into taking it out alongside a loan or credit card.
Source:Press Association
