The Consumer Panel and Which? have welcomed the FSA’s move to give some consumers with payment protection insurance (PPI) complaints more time to go to the Financial Ombudsman.

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The Consumer Panel and Which? have welcomed the FSA’s move to give some consumers with payment protection insurance (PPI) complaints more time to go to the Financial Ombudsman.

The Consumer Panel has previously criticised the industry for delays in resolving PPI by forcing the FSA to re-publish a consultation on PPI complaints.  

Kay Blair, vice-chairman of the Financial Services Consumer Panel, said: "Consumers affected by the delays need tough action from the FSA and this suspension of the six month limit is a step in the right direction.

We are pleased that the FSA has taken the precautionary measure of extending the time these customers will have to go to the Financial Ombudsman. 

"We have been concerned by the time it is taking to resolve the problems with PPI.  Firms have been getting away with not handling customer complaints fairly. The industry has been determined to challenge the FSA’s introduction of new rules and guidance on customer complaints.  We certainly hope that a long term solution to PPI complaints can be reached soon."

Which? principal policy advisor Vera Cottrell, said: "Of the two million people we reckon have been missold PPI, only a minority ever complain. It’s outrageous that so many consumers are still waiting for fair redress, and we hope that this decision encourages more of them to persist. Our advice to people is: Don’t let your bank fob you off."