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Press Release

Legislator Kuo-Chang Huang Visited the FOI on 14 March, 2016


On 14 March, 2016, Legislator Kuo-Chang Huang visited the FOI to understand how financial consumer disputes are being processed. Kuan-Chun Johnny Chang, the FOI Ombudsman Committee Chair and President, delivered a presentation to Legislator Huang on the current status of dispute case handling and financial education and awareness initiatives. Jui-Lan Chung, Director General of the Department of Legal Affairs, Financial Supervisory Commission (FSC) and personnel from related FSC bureaus and offices also joined the visit and shared their views and experience.


Kuan-Chun Johnny Chang explained that as of the end of December 2015, the FOI resolved 68,382 financial consumer disputes, of which 41,618 were advisory cases, 17,803 were complaints, and 8,961 were ombudsman cases. Since its operation in 2012, the FOI has been proactively assisting financial consumers in resolving their disputes with financial services enterprises (FSEs). The past four case-closure years witnessed an increase in the dispute resolution success rate of complaint and ombudsman cases from 40% in 2012 to 58% in 2015. These figures illustrate the FOI's remarkably enhanced performance in dispute resolution.


Kuan-Chun Johnny Chang expressed that apart from its achievements in dispute resolution, the FOI has also proactively conducted education and awareness programs for FSEs and financial consumers. From 2012 to 2015, it conducted 300 financial awareness sessions, attracting more than 40,000 participants.


During his visit, Legislator Huang voiced approval of the FOI's performance in its dispute resolution and education and awareness efforts. He also inquired about the FOI's allocation of workforce, case handling capacity, budget, ombudsman procedures, and exchange of information with the competent authorities on FSE regulatory violation cases, and encouraged the FOI to continue its efforts in financial consumer protection.

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