And the Data Protection Act is for What exactly?

[Destinyofsouls]

I keep hearing from a lot of people that banks are now taking 2 - 3 months to send out statements. Some are taking that long and just sending out a spreadsheet with charges listed.

Complaints, I hear to the Information Commissioner fall on deaf ears.

 

What is the point of the above Act?

Ok I understand that one could enforce through the SCC but this should not be necessary.

I see firms that claim for you now have to be regulated by the DCA, and are scrutinised rigourously before they can be authorised. And the banks? Well they can just contravene any act they like.

 

The DCA was in the paper last week for selling off names & addresses of people who got a CCJ, to a debt managment company, who in turn made appointments with them to discuss Debt mangement programme. Something that can be done themselves.

This particular company contravened so many regs ( one by asking a client who could not afford their 'up front fees of £1,500 to put it on their credit card!!!!)

The DCA ( the regulatory body) did what?

A big Fat ZILCH

The old boys network is alive and kicking

[PhantomReclaimer]

I think that the problem the banks are having is that the sheer number of requests for information is just bogging them down. No excuse, of course, but you can understand why it's happening.

 

Remember you don't have a right in law to demand information in a particular format, the bank can provide it in just about any format they want as long as it's legible. Printing individual statements is a much more long winded and expensive (for them) operation than simply doing a list of transactions.

 

P.

[Destinyofsouls]

Hi Phantom,

I understand that is the case, but then they should employ more staff to cope with the demand. Regulations, acts and rules are made to be adhered to. I bet if I was a small company and contravened the Data Protection Act, they would come down on me like a ton of bricks. This should be the same for large institutions per se.

No excuse

With regards the format they send. It does make a difference if you ask for TRANSACTIONS and charges, they cannot send you out a s/sheet made up off a PC. How do we know they are correct?

[PhantomReclaimer]

I agree entirely and have pointed out that it is no excuse for the banks, especially given that it's all due to their unlawful charges to begin with.

 

However, you have to accept the reality of the situation. The banks are being flooded with requests and no business can magic up hundreds of staff over night. Yes, they should be getting the book chucked at them by the Data Protection Registrar but they are stowed off with complaints too.

 

How do you know anything they send you is correct? Just because it's in one format dosen't mean it's correct. As long as they send you what you have asked for, and all of what you have asked for, they have complied with their obligations.

 

P.