Please note it is about time proposals were brought in to name and shame Finance Companies when the pubic make complaints against them to the FSO.
I would have 10 say and insist that naming Banks, Brokers and Insurance Companies would make them, would force them to put in a much better effort to resolve customer complaints.
This is what we have in England. Scotland and Wales and Northern Ireland, so why have we not it in the Republic of Ireland.
I believe in the long term when companies are named over time it would lead to fewer complaints, that has to be better for the consumer.
The number of complaints here is rising and I believe it would soon lead to a 50% drop in complaints. It would also mean there would be a better quality of service from the financial institutions.
Financial institutions are not putting in much of an effort to improve their complaints records.
They need to make a much better effort to settle disputes with consumer before it reaches the Ombudsman.
I believe it would give the banks an incentive to improve the way they treat complaints.
I am giving my view before September and please take on board what I have said as I had my own experience myself.
You can look at the issue whatever way you like but the most effective way to get results from banks, brokers and Insurance companies is to name and shame them.
The sooner it is brought into force the better.
It will save hassle, money, time, and overall a much better service for all the public in the long term.