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Most financial disputes resolved with goodwill settlements
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The majority of claims filed against financial institutions here are resolved amicably through mediation.
PHOTO: ISTOCKPHOTO
Most claims filed against financial institutions are resolved amicably through mediation, with investors receiving some form of goodwill settlement.
While aggrieved customers often bay for blood in all-out battles with their banks or insurers, numbers from the Financial Industry Disputes Resolution Centre (Fidrec) show that the soft approach appears to work better, especially when investors do not have strong evidence to support their claims.
