Doherty’s financial products bill passes final stages

A Donegal TD’s bill means complaints about financial products that are more than six years old can now be dealt with by the Financial Services Ombudsman.

The Bill, from Sinn Fein Deputy Pearse Doherty, passed the final stage in the Dail yesterday evening.

Up to now, the Ombudsman could not consider complaints about financial products that were sold more than six years from the date of complaint.

Deputy Doherty says it’s estimated that, annually, more than a thousand complaints are not made or not heard every year because of the six-year rule.

He told Ocean FM what passage of the Bill will actually mean for people.