NewDay Ltd

Financial Ombudsman decision DRN-5873242 Upheld

Upheldoutcome, as published by the Ombudsman

£900redress stated in the decision

Mon Dec 08deadline 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 B complains that NewDay Ltd acted irresponsibly when they agreed to a credit card account and subsequent credit limit increases.Irresponsible lending

But said there was evidence of financial vulnerability which meant any further lending by NewDay was irresponsible.Support for vulnerable customers

Rules cited

FCA CONC (Consumer Credit sourcebook), Consumer Credit Act 1974

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5873242.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.