HSBC Bank plc

Financial Ombudsman decision DRN9133842 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Fri Aug 21deadline 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

Mr R complains that the rate of interest on a managed loan he took from HSBC Bank plc to consolidate business borrowing is too high.Interest and rates

Mr R said that the loan was mis-sold and that the interest rate was influenced by the now reported issues with London Inter-Bank Offered Rate (LIBOR).Product mis-sold

Rules cited

Consumer Credit Act 1974

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN9133842.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.