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    • MAttRAWR
    • By MAttRAWR 18th Oct 16, 6:06 PM
    • 4Posts
    • 0Thanks
    Co-operative Bank CCA non-compliance
    • #1
    • 18th Oct 16, 6:06 PM
    Co-operative Bank CCA non-compliance 18th Oct 16 at 6:06 PM
    I've recently received a letter regarding my loan account from the Co-operative stating that they have previously provided me with information which did not fully comply with the CCA and as such I am not liable to pay interest of default charges for the effected period (Feb-Oct 16) and refunded just under 250 of interest.

    A week later I received a further letter stating that they had identified further issues with my account and as such they will not charge any further interest on the loan.

    Over both letters, they haven't given any further information except that it didn't comply with the CCA. I've called up the number they provided on these letters and they stated that it's relating to Notice(s) of Sums in Arrears and Annual statements and that they are charging no further interest as they are unable to make my account 'compliant' with the CCA. I asked how they are unable to make it compliant and they couldn't answer, instead stating that they will send a letter out in 10 working days.

    Obviously no further interest is of massive benefit to myself, however something doesn't quite sit right that they cannot give me full information as to what is wrong with my account.

    Anyone had the same or got any further information?
Page 1
    • zx81
    • By zx81 18th Oct 16, 6:43 PM
    • 16,370 Posts
    • 17,413 Thanks
    • #2
    • 18th Oct 16, 6:43 PM
    • #2
    • 18th Oct 16, 6:43 PM
    The issue has been running for a couple of years now. The letter will explain better than the call centre can.

    Essentially it's to do with incorrect annual statements, meaning they cannot legally charge interest. Just enjoy the refund.
    • DCFC79
    • By DCFC79 18th Oct 16, 7:18 PM
    • 31,442 Posts
    • 19,856 Thanks
    • #3
    • 18th Oct 16, 7:18 PM
    • #3
    • 18th Oct 16, 7:18 PM
    Nothing is wrong with the account as such but more the admin I guess side of it I guess.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
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