Via Banking Day:
The customer relations crisis now engulfing Members Equity Bank is exposing much more than a breakdown in communication with home borrowers – it is also opening a window to a crude and inadequate approach to risk management.
While the bank acknowledges that it failed to properly give customers notice that their capacity to redraw on their home loans would reduce from 27 April, it is sticking by its rhetorical defence that it was done “with the best intentions”.
