Finance minister Michael Noonan has given the Financial Services Ombudsman the power to name financial service providers who have at least three complaints against them substantiated.
The minister today signed a Statutory Instrument commencing section 72 of the Central Bank (Supervision and Enforcement) Act 2013.
“This additional provision will mean that financial service providers who are failing their customers will be publically identified and incentivised to make real improvements,” said Noonan in a statement.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team