Friday, July 10, 2009

Banks with worst records on complaints to be exposed - Times Online

Banks with worst records on complaints to be exposed - Times Online: "For the first time, all big financial organisations will be compelled to publish complaint numbers, which will then be assembled by the Financial Services Authority (FSA) into a database that can be used to reveal the best and the worst in the industry."


Regulatory futility at its finest.

New companies have no legacy so will always appear 'cleaner' but that is no guarantee of satisfaction. This is all about forcing companies to pay up even when the claim has no merit. In some circles they would call it blackmail but the big firms will so as they are told simply because it isn't their money, is it?

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