More than 2,000 customers complained to the Hong Kong Monetary Authority (HKMA) and the Consumer Council about banking malpractice last year, mostly related to credit cards.
The council has called for further measures to be introduced, such as a new authority or laws to better protect customers.
The authority, however, said that there was no need to increase protection or introduce a banking ombudsman.
Their contrasting views were presented in papers submitted to legislators yesterday ahead of a meeting on consumer protection on Thursday.
The council received 1,079 complaints about banks from customers last year, up 8 per cent from the previous year. In the first two months of this year it had received 140 complaints.
Most complaints were related to credit cards (551), followed by mortgage loans (111) and personal loans (108). The council said there had also been a lot of complaints on how banks sell security and insurance products.
