Lloyds TSB pays compensation after lending dementia patient £18,000

[AAD News Feed]

Lloyds TSB pays compensation after lending dementia patient £18,000

This is a duplicate of the Blog Entry made on 9th June 2012 08:05.

Lloyds TSB has agreed to pay compensation after lending a woman with dementia £18,000 for home improvements. The bank allowed pensioner Jean Hyde to...

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[nattie]

Re: Lloyds TSB pays compensation after lending dementia patient £18,000

BBC News - Lloyds TSB pays compensation after lending dementia patient £18,000

This is a really bad case in which a dementia patient was lent £18000 when their total income was less than that. It just shows that banks are still employing people who do not connect their brain rather than their wallet.

[pompeyfaith]

Re: Lloyds TSB pays compensation after lending dementia patient £18,000

This is a tragic set of circumstances, however it is nothing new there are thousands of cases where the mentally ill or disabled have been subjected to credit that they do not understand admittedly in a lot of cases it is hard for the lender to distinguish who is or who is not however there are cases just like this where it is easy.

There was guidance released last year by the OFT relating to lending to the mentally impaired. That was a good start but more needs to be done because as your all know there is a direct link between disability and debt.