Tuesday, June 07, 2005

Giving Credit Where Credit Is Due?

This one is about a month old (May 10) but I lost it in the ‘archive.’

It seems that Lloyds Bank has gotten into some trouble over some loans they had made. In a sample of 185 personal loans granted in November 2004, 16% of the people couldn’t afford the loans. In one case, a vulnerable couple was ‘badgered into taking out loans totalling £100,000 in the space of a year.’ What’s more, Lloyds sent Jamie McCoy a credit card (which he had not applied for) despite the fact he had been homeless and living on the streets for 20 years.

This is the same bank that took nearly two months to open my account despite the fact that I had provided (on more than one occasion) proof of my identity, proof of my employment (including salary), and proof of my residence. They still won’t give me a credit card.

Maybe I’ll just tell them I’ve been homeless for the past 20 years…


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