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UK banks such as Barclays and the Royal Bank of Scotland are seeing a major increase in angry customers.
Barclays announced today that it has seen a major jump in customer complaints this year, a 76 percent increase from last year, Reuters reported. This probably has something to do with the major interest rate scam that Barclays was caught up in. As GlobalPost reported in July, Barclay's famous interest rate manipulation, known as the LIBOR scandal, has negatively affected millions of households.
It should be no surprise then that Barclays received 442,000 complaints in the first half of 2012, Reuters reported.
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It's not just Barclays though. Multiple UK banks are seeing a jump. In fact, the Royal Bank of Scotland has seen a 128 percent increase in complaints this year, BBC News reported. Santander, HSBC, Lloyds, and RBS are also fielding more angry calls. It might seem strange that the companies are broadcasting their unpopularity, but the BBC explains that they are required by law to make their customer complaint figures public.
"The figures serve to illustrate the continuing challenge faced by all High Street banks in rebuilding customer relations," BBC's economics correspondent Hugh Pym commented.