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October 2019

Credit laws and banking /

Bank not required to reduce default amount for credit report

Amy had a $5,000 debt she could not repay, so the bank referred the debt to an external collection a…

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September 2019

Closing accounts /

Account closure due to lack of AML information

Nadine’s bank closed her account because it could not verify her identity in order to comply with an…

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September 2019

Concerns about lending decisions /

Former wife’s approval needed to change joint loan

John and Maureen had owned a home together for 16 years. Then the couple separated and Maureen move…

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September 2019

Insurance policies /

Bank right to decline terminal illness claim

Pania was diagnosed with a serious medical condition, which was treated with surgery in October 2016…

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September 2019

Insurance policies /

Non-disclosure proper grounds to decline life insurance claim

Martin suffered a heart attack and made a claim under his life insurance policy. The bank declined t…

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September 2019

Chargebacks /

Bank unable to process chargeback request for binary trading transactions

Lee asked the bank to process a chargeback request for his Visa card after signing up for an online …

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September 2019

Early repayment charges /

Bank’s communication about cash incentives led to misunderstanding

John and Judith’s mortgage broker negotiated cash payments totalling $7,500 when they borrowed from …

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September 2019

Closing accounts /

Bank wrong to close account based on allegations

Anahera went to the local branch of her bank to deposit a foreign cheque into an account she held jo…

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August 2019

Insurance policies /

Bank justified in declining claim because application incomplete

Simon bought life insurance from his bank and later made a claim after suffering a heart attack. The…

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Case notes

Bank not required to reduce default amount for credit report

Account closure due to lack of AML information

Former wife’s approval needed to change joint loan

Bank right to decline terminal illness claim

Non-disclosure proper grounds to decline life insurance claim

Bank unable to process chargeback request for binary trading transactions

Bank’s communication about cash incentives led to misunderstanding

Bank wrong to close account based on allegations

Bank justified in declining claim because application incomplete