Would you loan a couple in their seventies more than $1 million? Well this elderly couple's bank did and now Steve and Iris are crippled by debt and facing financial ruin.
Their family is now demanding answers. This is what Adelaide Bank had to say:
"No customer envisages getting into financial difficulty when they initially take out a loan, however, if this situation does happen, Adelaide Bank works closely with the customer to explore all the options available to them.
We do this to ensure the customer can continue to meet their obligations and as a Bank we meet our regulatory and legislative requirements.
We will continue to work with any of our customers who may be struggling to meet their obligations in an effort to reach a fair outcome for everyone."
For more information about Unhappy Banking visit www.unhappybanking.net.au.