Paragon Bank Plc
Financial Ombudsman decision DRN-2581184 Not upheld
Not upheldoutcome, as published by the Ombudsman
—no sum stated
Fri Apr 02deadline to accept (not the decision date)
The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.
What this decision was about
Interest and rates, Product mis-sold
In the Ombudsman’s words
He’s also unhappy that the interest rate fell significantly shortly after purchase and would like Paragon to pay the original rate in force at the time of purchase.Interest and rates
Mr K complains that Paragon Bank Plc failed to provide the required information about its variable rate ISA and that the product was, therefore, mis-sold to him.Product mis-sold
Rules cited
FCA BCOBS (Banking Conduct of Business)
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-2581184.pdf on financial-ombudsman.org.uk.
The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.