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September 2024

Lending restrictions /

Bank acted reasonably to accommodate couple as building project became ensnared in delays and changes

In mid-2021, Minerva and Horatio asked the bank for a $170,000 loan to build a pool and modular unit…

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September 2024

Account mandates /

Mother suffered no financial loss as a result of bank paying invoice without other signatory’s approval

Juniper and her brother were signatories on their elderly mother's account. The account mandate said…

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September 2024

Joint accounts /

Bank closed joint account without approval of other account holder

Astrid had joint accounts with her partner. In late 2022, their relationship deteriorated to the poi…

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August 2024

Concerns about lending decisions /

Bank met obligations to customer after decision to quit retail banking

Wren had several fixed interest rate loans whose terms expired at different times, the last being in…

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August 2024

Concerns about lending decisions /

Bank met obligation to treat customer fairly and reasonably during wind-up

Galen took out a bank loan to buy a property in January 2022. When, in June 2023, the bank announced…

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August 2024

Credit laws and banking /

Bank clearly communicated that sale proceeds were to be used to reduce loan.

Arlo told the bank he had decided to sell one of two properties the bank held as security for his lo…

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August 2024

Joint accounts / Concerns about lending decisions /

Non-appearance of loan on records no basis for assuming it had been paid off

Erin and her husband took out a joint loan with their bank in 2018. During the next four years, they…

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August 2024

Account information /

Bank explained that $5 million would not go into account paying interest

In December 2021, Jean had to arrange the payment of $5 million in inheritance from an estate to her…

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August 2024

Concerns about lending decisions / Lending restrictions /

Bank told customer interest rate could be refixed if Official Assignee agreed

In 2007, Elora and her husband took out a joint loan to buy their home. In May 2021, her husband was…

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Case notes

Bank acted reasonably to accommodate couple as building project became ensnared in delays and changes

Mother suffered no financial loss as a result of bank paying invoice without other signatory’s approval

Bank closed joint account without approval of other account holder

Bank met obligations to customer after decision to quit retail banking

Bank met obligation to treat customer fairly and reasonably during wind-up

Bank clearly communicated that sale proceeds were to be used to reduce loan.

Non-appearance of loan on records no basis for assuming it had been paid off

Bank explained that $5 million would not go into account paying interest

Bank told customer interest rate could be refixed if Official Assignee agreed