The Financial Services Ombudsman has been given the power to name and shame institutions which are the subject of public complaints.
Finance minister Michael Noonan has signed orders which will allow the ombudsman to name a bank or insurance company which have been treating customers unfairly.
The ombudsman, Bill Prasifka, has regularly complained that he is legally barred from naming any institutions which attracted complaints from the public.
Minister Noonan says he believes naming and shaming lenders with poor behaviour should give them an incentive to treat customers more fairly.
The orders will kick in from the beginning of next month.
