Light Up Rotary – 45th POEM FOR THE 45th WEEK
TOPIC: FINANCIAL MEDIATION BUREAU
Speaker: MR. JEREMY LEE
Date: 9THJune 2015 DOUBLE TREE BY HILTON
FINANCIAL MEDIATION BUREAU (FMB)
President JS Kwang, brought a close friend, Jeremy Lee,
to our illustrious club as speaker extraordinaire, you see!
Humble, yet powerful Jeremy packed a punch stunningly,
as we unassuming Rotarians knew not the role of FMB!
It dealt with complaints, he said, related to personal loans
or housing, internet banking and ATM transaction moans!
Indeed, FMB dealt with FD related nuances and vexations,
All the above for sums not exceeding 100K in transactions.
But for motor and fire related disputes he did clarify though,
sums not exceeding 200,000 will be settled all in a mutual tow.
The Bureau will liaise with the Financial Service Providers, so
till aggrieved parties are helped with no fee charged all the more!
Both consumers and Financial Service Providers stand to gain;
there is no legal representations and worrisome court pain!
Received they over 14,000 enquiries from letters to walk- ins,
It augurs well for the society for this alternative channel means.
Jeremy informed that FMB will soon be FOS, in a name change,
a rose by any other name is still a rose and it will not be out of range.
A fair, effective and independent dispute resolution process is the aim
as the “Financial Ombudsman Scheme” kicks in mid-year all the same!
PP DR. S.SHANMUGAM, 9TH June 2015 at Double tree by Hilton