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Barclays tops regulator list with 276,000 complaints

Barclays Bank received more complaints than any other financial institution during the second half of last year, with more than 276,000 new complaints.

The FSA’s complaint figures, published last week, provides data for firms that reported 500 grievances or more over the six-month period between July and December 2010. The figures show Barclays received a total of 276,315 new complaints during the period.

This breaks down as 205,151 banking complaints, 59,003 concerning general insurance and pure protection, including payment protection insurance, 8,580 mortgage complaints, 2,051 concerning investment and 1,530 life and pensions.

Over the same period, it closed 279,646 complaints and, of those, it upheld 55 per cent.

Across the Barclays group, including the bank, life insurance, share dealing and stockbroking divisions, there were 280, 771 complaints in total.
Santander received 195,475 new complaints and upheld 53 per cent of the 252,963 it resolved.

Lloyds TSB received 175,892 new complaints and closed 136,908, of which 48 per cent were upheld.

Overall, Lloyds Banking Group received a total of 216,246 complaints across its Black Horse, Cheltenham & Gloucester, Lloyds TSB General Insurance, Lloyds TSB Insurance Services, Clerical Medical Investment Group and Scottish Widows brands.

The regulator says: “The FSA is committed to greater transparency where it will benefit consumers. Publishing this data brings complaints to the attention of firms and consumers alike and gives firms a benchmark and an incentive to imp-rove how they treat their customers and handle complaints.”

Barclays global retail banking chief executive Antony Jenkins says: “Barclays is committed to reducing the num- ber of complaints it receives and is making substantial improvements to the overall service we provide. Customers can expect improvements in our service in 2011.”

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  1. And what are the corresponding data for the whole of the IFA sector?

    And if “The FSA is committed to greater transparency where it will benefit consumers”, why will it not publish for all to see and to debate the submissions received in response to its various consultations on such issues as the RDR? On what basis has it decided that to do so would not benefit consumers? Most likely, publishing such feedback, in many cases backed by independently gathered data which happens not to accord with its own predetermined agenda, would reveal the massive scale of opposition to and flaws in its thinking. All of which would very probably force a humiliating climb-down, and we couldn’t have that, could we?

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