Cases

Monitoring use of funds on a construction account held in the name of a general constructor

Category Other loans | Source Annual Report 2018/11

This complainant and building owner had entered into an agreement with a general contractor (GC) regarding the construction of a single family home. The construction project was funded by the

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Monitoring of the use of funds on a construction account held in the name of a general contractor

Category Other loans | Source Annual Report 2018/10

The complainant had entered into an agreement with a general contractor (“GC”) to build a single family home. The agreement stated that the GC should open a building account with

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Early repayment penalty charge for mortgages redeemed early

Category Fixed-rate mortgage | Source Annual Report 2018/09

The customer took out a mortgage with the bank which was subdivided into multiple instalments. He repaid the mortgage early and the bank demanded that he pay early repayment penalties

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Written investment advisory agreement

Category Investment advice and asset management | Source Annual Report 2018/12

The bank suggested conclusion of a written investment advisory agreement to the customer. The customer did not wish to accept the offer, whereupon the bank told him that it would

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Cancellation of a fund savings plan

Category Investment advice and asset management | Source Annual Report 2018/13

The young customer had signed an application for an actively managed fund savings plan with a financial advisor, working as a sales partner for the bank, under which she was

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