Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Some targets will always be easier to reach than others. Following the Keane report, a host of resolution processes such as split mortgages and so on were suggested. When the banks appeared before us, it became apparent that a letter to a customer who had not been engaging was allowed to be counted as a resolution process. Without exception, the greater part of the banks' 20% targets seemed to comprise written correspondence. The committee is concerned that a letter can be defined as a resolution process. It may be the case that a letter to a customer who is not engaging with a bank is the commencement of a resolution process, but it is not a structured resolution process. How did these letters come to be recognised as meeting the target?