Banks ignore complaints, and financial regulatory authorities ignore complaints about the banks ignoring complaints. Is it a beautiful system of evasion? Or is it avoidance? What’s the difference:

  • Evasion: intentionally circumventing their responsibilities, eluding obligations, or deceiving customers and the public by ignoring complaints.
  • Avoidance: incompetence, or lack of resources, and thus avoiding dealing with these issues, this could be seen as avoidance.

In either case, the outcome is a system that fails to protect consumers, or promote transparency, accountability, and trust in the financial sector.

Increasingly Government departments and agencies, together with large corporations, choose the path of least resistance. The easiest solution when handling consumer or public complaints, is to ignore them. Hope they’ll go away.

”Hey, why should I answer any of these complaints, I’m having a peaceful relaxing day enjoying my café latte.

Why should I spoil my day?

I’ll just press a button and send a standard lawyer-approved answer.

Better still, I’ll ignore it and get back to surfing my social media account!”

However, this temporary solution comes with serious long-term consequences, including the erosion of trust, damage to reputation, and missed opportunities for improvement.

Transparency and accountability are rapidly disappearing, as governments and corporations continue to dismiss or ignore public complaints.

By turning a blind eye to the concerns of the populace, these entities risk losing public trust, damaging their reputations.

But do they really care?

As we’ve seen over the past decades, senior executives and government officials get rewarded for “stuffing up.” They avoid accountability for their mistakes or misconduct, often moving on to new positions with lucrative compensation packages.

This is the “golden parachute” or “revolving door” method to handle such situations.

“Take your twenty pieces of silver, sit in your cushy offices, and stay silent, upon penalty of death.”

Banks Ignore Complaints

Unresolved complaints result in negative press, public criticism, and social media backlash, which rarely harm the public image of governments and corporations. And clearly very few corporations or governments care….

Until they get slapped with a $25m fine. But that’s small change to bank that announces billions in profits each year.

What about Bud Light’s marketing campaign engaging a “transgender influencer” to promote a “man’s beer” to real men?

It’s a great example of a company bowing down to false “woke” or “socially progressive” indoctrination, getting huge negative backlash, loss of sales, and even boycotts.

The Bud Light case highlights challenges that companies face by consumers demanding accountability… And it shows what happens when corporations avoid thoughtful and authentic engagement with their customers. Or fail to consider the potential consequences.

Individuals in positions of power are clearly more concerned with preserving their own interests and maintaining the status quo. Why “rock the boat” by addressing systemic issues and inefficiencies that may require difficult changes or unpopular decisions?

The idea that governments and corporations can afford to ignore the concerns of the populace is misguided and detrimental to their long-term success.

Commonsense-thinking people expect individuals in governments and corporations to be responsive to their needs and concerns. Ignoring complaints leads to a loss of faith in these entities’ ability to serve the public interest and fulfil their responsibilities.

Banks ignore complaints. Why? Because they can.

It’s up to you. Sit back, do nothing. Go with the flow.

Or take a stand. Take action. Keep pushing the financial regulators to make the bank executives accountable for their actions or inactions.