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RBS Collective Investment Funds Limited

Financial Ombudsman decision DRN-3904267 Not upheld

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

Treatment in financial difficulty, Charges and fees, Interest and rates

In the Ombudsman’s words

Part of the complaint was about the period when the bank brought Mr M’s accounts under the management of its Global Restructuring Group (GRG).Treatment in financial difficulty

The bank unreasonably charged a £22,800 arrangement fee and a 50% profit share feeCharges and fees

The bank unreasonably increased the interest rate to 3.5% over base in 2009, and charged a default interest margin of 2.0% from 2010 onwardsInterest and rates

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-3904267.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.