September 2006: Philip WILSON (co-founder of Loan Financial) makes an appointment with his bank branch to take out a consumer loan of € 8,000 in order to pay his taxes. While he has been working in the banking sector for 7 years and thinks he understands this product, he realizes a few months later that the rate of his credit is 14%, and that he has unwittingly taken out revolving credit.
In addition, looking at his savings book statements, he notes that the savings he had placed with this bank were paid less than 3% per year, without any measure with the rate of credit he had then subscribed.