Oireachtas Joint and Select Committees

Wednesday, 26 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Central Bank

3:40 pm

Photo of Peadar TóibínPeadar Tóibín (Meath West, Sinn Fein) | Oireachtas source

I deal with about three or four new mortgage distress cases on a weekly basis. To bring them to fruition takes weeks. To be honest, a large proportion of them involve incompetence within the banks. For example, staff member A is dealing with a case, but the next time something happens staff member B or C deals with it, until about ten different people have dealt with the issue in the space of five or six months, all of them either misunderstanding or not fully understanding what is happening. To a certain extent, the banks seem to be bringing the individuals along on a dance of dealing with the issue, to the inevitable conclusion of the objective in the initial stages. Could Professor Honohan answer the question and tell me how we can resolve this?

Is it the case that some of these people are collateral damage and will be evicted? Some of them have buried their heads and are not dealing with the issue, but some are trying to deal with the issue and meeting with incompetence, while others are just collateral damage.

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