Of all products, mis-sold PPI caused the highest number of complaints in the FCA data with 895,000 complaints making up 29% of the total.
PPI complaints contributed massively to the amount paid out in redress to customers, which stood at a total of £1.9bn between July and December last year.
Excluding PPI compensation, the total paid out to customers stood at £0.3bn.
Banking and credit card products were the cause of around 49% of the total complaints made, with almost four complaints per 1,000 client accounts.
Christopher Woolard, executive director of strategy and competition, said the news rules had “improved intelligience” on the full scale of complaints within financial services.
“Consumers want a simple way to complain that does not leave them out of pocket. And they want to be assured that their concerns will be dealt with fairly and quickly.
“These data will provide us with improved intelligence on complaints including new detailed data to show where industry is potentially failing consumers at product level.”
