Our investigation  

We found several instances where the bank failed to communicate adequately with Jude after he sought assistance. But regardless, we considered the bank would not have agreed to his request because such assistance is intended to be short-term only, whereas the tank water company’s difficulties were long-term in nature. A deferral of payments for three to six months, or an extension of the term of the loan, would not have helped Jude overcome his financial difficulties.  

However, we considered the bank’s continued failure to respond appropriately to his request, including giving him wrong information about eligibility for hardship assistance, caused him stress and inconvenience, particularly since it affected his ability to plan his company’s finances.  

Outcome 

The bank offered Jude $4,000 to compensate for the stress and inconvenience he had suffered. He accepted the offer.