8-5／DBS Bank Faces Continuous Consumer Complaints – Legislators Huang Shanshan and Chang Chi Kai Call for Investigation by FSC, Naming Public Organizations and Consumer Protection Agencies潘語綺 (2024-07-01 02:15:06)

By Pan Yuqi, Journalist of CNEWS, Taipei

CNEWS received consumer complaints accusing DBS Bank of abruptly suspending credit cards, resulting not only in the nullification of accumulated air miles over the years but also inadequate responses from the bank’s customer service, which reportedly handled inquiries coldly. In response, legislator Huang Shanshan of the People’s Party urged the Financial Supervisory Commission (FSC) to investigate DBS Bank for infringing consumer rights. Legislator Chang Chi Kai also emphasized the necessity for the Fair Trade Commission and the Consumer Protection Agency under the Executive Yuan to scrutinize and potentially intervene.

Huang pointed out ongoing issues with DBS Bank since taking over Citibank’s consumer finance operations, ranging from labor rights violations of bank employees to disregard for consumer rights.

“Regarding DBS Bank’s confiscation of customer rights, the FSC must take a stance and action,” said Huang, citing widespread public feedback on social media and past complaint calls indicating systemic neglect of consumer rights by DBS Bank.

Huang urged the FSC not to wait for consumers to apply for arbitration through the Financial Consumer Protection Center, stressing the need for proactive investigation into whether DBS Bank violated fair customer treatment principles and severely affected customer rights.

Chang expressed that the controversy involves financial management disputes and consumer protection issues. He noted that since November 2023, the FSC has required transparency from issuing institutions during card cancellations to safeguard cardholders’ rights, adhering to relevant principles. He emphasized that unused or unexpired benefits such as reward points, mileages, and cashback should only be relinquished with cardholders’ consent without compromising their rights. Banks also have an obligation to notify users of changes or transfers and obtain their consent.

Chang pledged ongoing scrutiny of economic and consumer protection issues in legislative committees, questioning whether the bank’s actions breached contracts, disregarded consumer rights, or if similar cases exist with other banks. He reiterated the necessity for the Fair Trade Commission and the Consumer Protection Agency under the Executive Yuan to be vigilant and potentially conduct investigations.

Photo Source: CNEWS File photo

《More CNEWS reports》

Exclusive／8-1【With Video】Bank Canceled Card Without Reason, Nullifies 470,000 Air Miles; Consumer Complains DBS is the Worst Bank in Taiwan

8-6／DBS Accused of Arbitrarily Zeroing Flight Miles, CFCT: Infringes Consumer Rights, FSC Has the power to sanction

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