Davening vest

Question

In my shul there is a rule that anyone who davens for the amud (whoever acts as the cantor) must wear a jacket. Now, many individuals who want to daven for the amud don't bring a jacket. So, there is this one guy who supplies these people with a 'loaner' - it's this ugly blue vest which looks like a cross between a bullet proof vest and a life jacket. It is not at all respectable - I wouldn't wear that on a first date!! Is this really better than not wearing a jacket at all? What do you think should be done?