Sean Barrett (Independent) | Oireachtas source

It may be that in time, those legal letters will have no effect if it is seen to be the result of irresponsible lending by banks and a judge could very well make such a decision. Members encountered cases yesterday of people who had bank debt of more than €300,000 and an income of €40,000. If Ulster Bank has any similar cases on its books, it is quite likely that a judge will state the bank was responsible through reckless lending. Consequently, were one to assume that all this is the kind of adjustment the Central Bank seeks, the mere issuing of 4,128 letters might not accomplish what Ulster Bank seeks.