Rejected petition Banks should clearly explain the reason for declining an application

When a customer applies for a financial product online or in the branch and the application is refused, banks give a standard response saying "the application was declined due to your financial circumstances".

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There is no clear explanation on what evidence from one's credit profile the application was refused.
If this information is produced by the banks (example - due to defaults on your profile or because on bankruptcy filed or not enough evidence of managing credit etc), it will be useful information for the customer to work with.

This petition was rejected

Why was this petition rejected?

It’s about something that the UK Government or Parliament is not directly responsible for.

This petition is calling on banks, not the UK Government or Parliament, to take action.

We only reject petitions that don’t meet the petition standards.

Date submitted 16 April 2018
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