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 Bank ‘black mark’ puts David Stark in a credit abyss 

Bank ‘black mark’ puts David Stark in a credit abyss

03 Jul, 2009 04:00 AM
AN unwarranted credit black mark against a Bonny Hills man has led to his call for a parliamentary inquiry into banks’ powers.

David Stark has sought the help of Lyne MP Rob Oakeshott following his discovery of the reason why four lenders had turned down his credit applications since November last year.

After applying for a financing arrangement with a local car dealership, Mr Stark said he learned that a credit agency had made an incorrect listing, based on information provided by the former’s bank.

Citibank has acknowledged its part in the error, contacted Veda Advantage to ensure the agency corrects the listing and apologised to Mr Stark in writing.

It also sent similar letters to the chief executive at his new company and to the salesman at the car dealership, at Mr Stark’s request.

Citibank also has agreed to remunerate him for his mobile phone bill.

But the bank has baulked at the rest of its customer’s requests for compensation – including a donation to a nominated community cause – and advised Mr Stark to pursue the matter through the Financial Ombudsman Service.

As a result, Mr Stark has sought legal advice and is considering bringing a defamation suit against Citibank on the grounds the bank has damaged his reputation.

“I just want them [Citibank] to know this can happen to anyone,” he said. “There’s been a stamp on my file by Veda Advantage and this information is secret.”

Mr Stark wants Mr Oakeshott to raise the matter in parliament, to prevent this happening to others.

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