Ombudsman criticises lenders for incorrectly reporting on customers' credit

In one case compensation of €2,500 was awarded after a bank failed to provide an explanation for declining a transaction on a customer’s credit card and gave poor customer service. Picture: PA

Compensation of €10,000 was paid to an individual after a lender failed to correct a customer’s credit profile, following a credit card being issued in the customer’s name without his knowledge or permission.

The case was one of 180 legally binding decisions, issued by the Financial Services and Pensions Ombudsman (FSPO) between January and May.