AIB Who has complaints at the Ombudsman stage on the simple vs. compound interest issue?

[Beany.xx]

Yep, I got mine last week and same response

 

[tnegun]

Is anyone else still waiting on this complaint? I raised it along with related complaints, and the last update in September was "It is hopeful that the decision will be with the relevant signatory in the coming weeks" I queried again today and got similar.

 

[Greenbean]

Just to let ye know i got an email this morning with a preliminary decision of FSPO rejecting my complaint re the simple v compound interest issue .

The decision seems to be based on the idea that the ombudsman feels the compensation offered was reasonable . At no point in the decision does it seem to address the issue of how the interest aspect of the compensation offered was calculated however .

They seem to feel the overall amount offered was adequate + fair ( no matter how that figure was reached by AIB ) and we should be happy with it .

As it looks like this is the end of the road for the issue , I just want to thank again Brendan + the couple of other people who kept this issue going from the very start when AIBs attitude was " nothing to see here, move on " .

The redress has been lifechanging for me , enabling my family to sell and move on with our lives . I will be forever grateful to ye for yere determination and perseverance .

Cormac

 

[Brendan Burgess]

The decision seems to be based on the idea that the ombudsman feels the compensation offered was reasonable . At no point in the decision does it seem to address the issue of how the interest aspect of the compensation offered was calculated however .

Thanks for your kind words.

Yes, these decisions have been emerging from the Ombudsman's office over the last year. Some Preliminary Decisions have been appealed but the Ombudsman does not change his view.

We have lost the battle, but we won the war.


Brendan