Boi apologises about Central Credit Register reporting of restructured mortgages

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moneymakeover

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Charlie Weston:

Bank of Ireland has written to thousands of customers to apologise for incorrectly reporting details of their loan transactions to the Central Bank’s credit register.
The bank made mistakes when reporting on payments being made on mortgages that have been restructured. Some 47,000 accounts were affected.
It said it will consider compensating those impacted by the blunder

Anybody know how the compensation will work?
 
The fact that the statement reads they 'will consider' it suggests they haven't decided whether there will be any compensation yet, let alone how it will work (at least publicly anyway.)
 
I can't read the whole story.

Is this in any way material for a large number of people? Or something technical?

Many Indo stories turn out to be not very serious when you get to the 9th paragraph.
 
NoRegretsCoyote said:
Is this in any way material for a large number of people? Or something technical
Click to expand...
For the majority, it's something they didn't even know about. But it must be corrected.

For the minority who applied for any form of credit, and were refused on the basis of this error on their credit record, they have been impacted. Bear in mind, these were restructured mortgages.

Unfortunately there are several precedents for this across all lenders, so it's very easy to get an indication of the levels of compensation.
 
I have received a letter about this. It wasn’t for a mortgage. Is there anything people should do or just leave it be? It doesn’t explain how it effected people individually
 
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