Financial complaint numbers at historically high levels
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The Financial Services Complaints Limited received 1469 complaints in the year to June 30. Photo / 123RF
Financial complaint numbers remain at historically high numbers and show no sign of easing, the Financial Ombudsman says.
New annual figures show the complaints service received 1469 complaints in the year to June 30, up from 1426 the previous year.
'We're not yet seeing signs of complaints reducing since increasing rapidly two years ago in the wake of Covid-19,' said Financial Ombudsman Susan Taylor.
'What's changed is the spread. Complaints are now more evenly distributed across a broader range of financial services, rather than being concentrated in just a few areas like non-bank lenders.'
Lenders accounted for the largest share of complaints at 38%, though many were resolved before escalating to a dispute needing formal investigation.
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