Bank of Ireland told borrowers that if they believe the reporting gap may have affected a lender’s decision to provide fresh credit, they can contact the lender to inform them that the information on the CCR is not up to date and that the bank is in the process of correcting this. “You can provide this letter as proof of our error and our intention to correct this gap as quickly as we can,” it said, adding that it apologised for the error.
The bank spokesman said that the company has informed other lenders of the issue. “To date we’ve had no confirmation of a loan application being impacted, but if any customer has a specific query they can contact our team and we will support,” he said. The loans deal follows Belgian financial services giant KBC Group’s decision two years ago to exit the Irish market, weeks after the only other non-Irish-owned retail bank in the Republic, Ulster Bank, revealed that it was winding down.
News of the data error comes a year after Bank of Ireland was fined €463,000 by the Data Protection Commission , after an investigation found 47,000 customer accounts were accidentally altered in such a way it could have damaged their credit ratings and prevented them getting loans.
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Source: IrishTimes - 🏆 3. / 98 Read more »