FSA grants banks extension on PPI complaints

Under FSA rules PPI complaints have to be responded to within eight weeks. However the FSA extension allows firms extra time to deal with claims which have been put on hold and complaints received since the failure of banks' judicial review to avoid paying out claims. PPI complaints still with the bank but put on hold during the judicial review will now receive a decision by the end of August. Grievances received after the conclusion of judicial review but on or before the 31 August will be responded to within 16 weeks. Those complaints received on or after 1 September and befor...