Professor Philip Lane:

We cannot get into detail of named institutions but, in general, this issue of what is meant in these contracts is fully within what we look at. I will re-emphasise a few things. What we do is in addition to the normal options available to those affected. Regardless of what the banks decide they will accept under this process, it remains the case that those affected can go to the ombudsman and it is to be hoped that enough, but there is also the option of going to the court system. There are many ambiguities in the volume of different materials received by customers. When there is ambiguity, a reasonable person might say what it reads as to him or her.