Coop overcharging couple interest on loan is ‘scandalous, illegal act’
In a “scandalous and extremely illegal act”, the former Cooperative (Coop) bank overcharged a private loan by €28,686.96 in interest rates, financial ombudsman Pavlos Ioannou...
financial ombudsman
Lenders told not to foreclose on properties if Estia approval still pending
The financial ombudsman has advised banks and credit-acquiring companies to refrain from foreclosing on mortgaged properties before the definitive conclusion of procedures within the Estia housing...
Financial ombudsman writes off person’s loans
The financial ombudsman has granted debt immunity to a mentally handicapped person, asking the entity to which the money is owed to comply. In a...
Finance watchdog says job impossible without increased budget
The Financial Ombudsman on Monday complained that the agency will not be able to perform their functions after the government slashed their budget by a...
Opposition seeks to beef up watchdog’s role in banks
An opposition party said Monday it will table a bill that would make decisions taken by the financial ombudsman legally binding on banks. Angelos Votsis,...
Coronavirus: financial ombudsman’s office closed for two days after case found
The office of the financial ombudsman will be closed for two working days due to a confirmed Covid-19 case, it was announced on Sunday. An...
Bank calls off pensioner’s eviction after financial watchdog intervenes
The eviction by the Bank of Cyprus of an elderly Paphos resident was called off on Wednesday after the intervention of financial ombudsman Pavlos Ioannou....
AG confirms investigation into former Co-op boss and others
Attorney-general Costas Clerides confirmed on Wednesday he had ordered an investigation into the Co-op Bank’s former CEO Nicolas Hadjiyiannis and other senior officials over their...
Attracting investor interest for Co-op Bank ‘a must’, financial ombudsman says
Attracting investor interest for the Cyprus Cooperative Bank is a must and a move everyone should contribute in, in order to shield the Cypriot economy,...
Banks face heftier fines for mistreating customers
Parliament on Monday passed a law expanding the scope of action of the Financial Ombudsman and empowering the agency to impose heftier fines on...
