The strains are getting intense. The latest indicators are stark. Mortgage arrears continue to rise. Meanwhile, the annual report from Financial Sector Ombudsman Bill Prasifka last week showed a sharp rise in complaints against banks and insurance companies. The financial sector, it appears, remains bad at dealing with complaints -–partly a result of an apparent refusal to learn from past complaints, and partly from systemic problems, such as poor mortgage lending and the scandal that...
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