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Bank failed to communicate effectively with problem gambler customer

Categories:
Concerns about lending decisions,
Summary:
Mason had a gambling problem and asked the bank to make sure it didn’t give him any personal loan services. The reason he gave was “personal circumstances”. The bank responded to say his request had been noted, and the home lending team had been notified. Three months later, Mason applied for a credit card from the bank, which was approved the same day. Later he asked the bank to write off part of the debt he had accumulated.
Published:
May 2021

Our investigation

We found the bank fell short in terms of both communication and customer care. We considered the bank should have asked Mason about his request that it not give him any personal lending before it issued the credit card.

Outcome

The bank reimbursed the interest Mason had paid on the credit card and also gave him compensation of $500 for inconvenience.

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