The Government plans to accept a Fianna Fáil suggestion that institutions ruled against by the Financial Services Ombudsman, should be named.
The suggestion was made in Private Members' time tonight in the Dáil.
A spokesperson for the Finance Minister said they accept the idea in principle and legislation will be brought forward to implement the plan.
He said discussions have already taken place with the Ombudsman.
Michael Noonan told the Dáil he accepted that the naming of financial service providers in certain circumstances will support the work of the Financial Services Ombudsman.
He said much work has taken place in developing proposals for legislation on this issue, but further work was required on the Bill's detail and scope.
He said the Government would not oppose the Bill and that he may use Deputy Michael McGrath's bill which he described as a "fine piece of work."
Mr McGrath said his motion was about attempting to raise the standards in the financial services sector.
He said it would allow those providers with a good record to have their performance highlighted as well as "naming and shaming" those who do not.
Deputy McGrath said it was a relatively simple piece of legislation that would weed out the remaining bad practices that exist across the sector and would be a central contributor to our economic renewal.
