Financial services body targets consumer trust

CONSUMER protection has been the poor relation of the financial services sector for far too long, the chairman of the new Irish Financial Services Regulatory Authority (IFSRA) declared last night.

Speaking at the annual dinner of the Financial Services Ireland, Brian Patterson said a properly functioning market works for the consumer good.

"For whatever reason, the public believe that in the financial services industry there is abuse of market dominance and that the sector makes some of its profits by unfair practices at the expense of the consumer.