AIB Group (UK) Plc
Financial Ombudsman decision DRN5639644 Not upheld
Not upheldoutcome, as published by the Ombudsman
—no sum stated
Fri Jun 24deadline 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, Interest and rates
In the Ombudsman’s words
Banks are expected to review accounts where a borrower’s circumstances have changed, in part to ensure that they are lending responsibly.Irresponsible lending
converted the interest-free overdraft on his student account to a loan with an interest rate of base rate + 12 percentInterest and rates
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN5639644.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.