Too much time had elapsed since alleged wrongdoing by bank

Life Insurance,
Everett took out a mortgage with his bank in 2002. At the time, both he and his wife thought they had taken out life insurance connected with the loan and believed they had to have this insurance to get the loan. Everett’s wife died in 2004, and when Everett went to make a claim on the insurance, the bank had no record of the policy.
February 2023

In 2022, Everett complained to us. He said he had taken up the matter with the bank in 2004, but the bank failed to investigate his concerns. Nonetheless, he had kept contacting the bank on an annual basis about the matter.

Our investigation

Our first step was to determine whether we were able to consider Everett's complaint given the length of time that had passed. Based on Everett's explanation, he had become aware of the bank's alleged wrongdoing in 2004 when he asked about his wife's insurance policy. Neither Everett nor the bank were able to provide any evidence regarding the policy, and the bank had no obligation to hold any such information given the time that has passed. Furthermore, there was no evidence Everett had been contacting the bank over the following 18 years.


We were unable to further consider Everett’s complaint because of the time that had passed.

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