The Financial Services Authority (FSA) is proposing to name the banks and other financial services companies that receive the most complaints.
In a statement Thursday, the City regulator said it wants to shame those who upset the most customers and reveal how they handle grievances.
Under the proposals, people would be able to see how many complaints were opened and closed, the number closed within eight weeks and the percentage of complaints upheld.
“Publishing complaints data will mean that people can learn more about how firms handle complaints and the frequency with which they arise,” said Dan Waters, the FSA’s director of retail policy and conduct risk.
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