Oireachtas Joint and Select Committees
Tuesday, 3 September 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Overview of Financial Sector: Discussion with AIB
3:50 pm
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
That is fair enough, but members have not seen the letters. Consequently, I can only make suggestions because Mr. Duffy claims these 5,894 letters make up part of the long-term sustainable solutions. I put it to him that under the regulatory regime announced and imposed on his bank, it must be a long-term solution. However, a letter to a customer asking him or her to engage is not a long-term solution. Unfortunately, a letter stating the bank will repossess a house is a long-term solution, regardless of whether members in opposition agree with it. Either the bank is offering the customer a long-term solution or it is stating it intends to repossess, but it cannot issue 5,894 letters to customers and then claim it has reached the Central Bank's targets. While the Central Bank has not verified the figures AIB has presented today, it will not or should not verify them unless long-term solutions were offered.
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