Oireachtas Joint and Select Committees

Thursday, 5 September 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Financial Sector: Discussion with Permanent TSB

11:20 am

Photo of Arthur SpringArthur Spring (Kerry North-West Limerick, Labour) | Oireachtas source

I can point to cases which have come to my attention during the past two weeks involving individuals who have not been educated by Permanent TSB staff about the implications for them of the personal insolvency process. PTSB has a problem and it is not being fair to its customers. Mr. Masding said earlier that he was customer centric, while Mr. O'Sullivan said the purpose of the bank on a daily basis was to make non-performing loans perform. As politicians, our objective is to lift a generation of people out of the quagmire in which they find themselves as a result of poor governance, poor regulation and bad banking. I have not seen any evidence of this to date. PTSB needs to up its game and treat people fairly. The personal insolvency practitioners will be in a position to assist people, but they are not even being made aware of this. What does the bank propose to do in this regard?

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