Senator calls for crackdown on banks

Senator Ned O’Sullivan.
Senator Ned O’Sullivan.

LISTOWEL Senator Ned O'Sullivan is calling for a tougher crackdown on banks in the light of a report which shows an increase in complaints against financial institutions.

Senator O'Sullivan was reacting to a report from the Financial Services Ombudsman.

"This is more damming evidence of an unacceptable culture within the banking system and a total unwillingness to change," Senator O'Sullivan said.

"It is clear from this report that the banks have learned absolutely nothing and have no interest in pursuing the kind of reform that the system so desperately needs.

He said that it was important new legislation to name and shame banks found wanting in handling customer complaints be pursued to the letter.