Zopa Bank Limited
Financial Ombudsman decision DRN-4915330 Upheld
Upheldoutcome, as published by the Ombudsman
£25,000redress stated in the decision
Thu Aug 15deadline 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
Irresponsible lending, Support for vulnerable customers
In the Ombudsman’s words
Mr M has complained with the help of a representative, that Zopa Bank Limited (“Zopa”) irresponsibly provided a loan to him which he couldn’t afford to repay.Irresponsible lending
Mr M didn’t agree saying he is a vulnerable person as defined by the industry regulator and Zopa didn’t carry out proportionate checks before it lent to him.Support for vulnerable customers
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4915330.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.