Watchdog criticised for not naming rogue firms

THE Financial Ombudsman’s report into rogue companies has been dismissed as vague and woolly for not naming and shaming the offending institutions.

Opposition politicians demanded full exposure of banks and insurance firms found to have wronged customers in a move to cut the soaring number of consumer complaints.

The latest report from the Financial Ombudsman shows a 28% rise already this year in the level of cases being brought against institutions.