Philip Field tells royal commission he regrets ruling that woman repay Suncorp loan in 12-18 months

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The financial ombudsman service has admitted it was wrong to rule that a widow should repay her dead husband’s business loan within 12 to 18 months after it found the loan should never have been made in the first place.

The banking royal commission heard the case of 62-year-old Jennifer Low, who was chased by Suncorp over five business loans totalling $1m after her husband had died.

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