Oireachtas Joint and Select Committees

Wednesday, 29 April 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland

2:00 pm

Photo of Stephen DonnellyStephen Donnelly (Wicklow, Independent) | Oireachtas source

If I and others were to provide Mr. Boucher with a portfolio of testimony, maybe from individual borrowers but also from people working in this field with all lenders that identify Bank of Ireland as being on its own in the level of unhelpfulness and aggression used in these cases does he believe who might be factored into changes in the bank’s policy? I understand that Mr. Boucher’s job under law is to return value to his shareholders but the bank’s SVR mortgage is higher than that of several of its competitors. The verifiable word in the market is that if a borrower gets into trouble he or she will be treated in a much less reasonable and humane way by Bank of Ireland than by its competitors. If it turns out that the word is the bank is more aggressive, and if it is more expensive, that begs the question why would anybody take out a mortgage with the bank. With that in mind, would Mr. Boucher be open to reviewing testimony with a view to changing the tone and approach Bank of Ireland has taken consistently over the past few years when working out mortgage arrears problems, as I am told every day by people working in the field?

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