Oireachtas Joint and Select Committees

Tuesday, 21 February 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector in Ireland: Discussion (Resumed)

4:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

In December, Mr. Gerry Mallon of Ulster Bank was before the committee. I asked him some straightforward questions on behalf of the 2,000 affected customers who were waiting for letters in the post to be restored to their original tracker rates. He said the bank would be writing to them that month. I then asked would all customers receive a letter to be put back on their tracker mortgages before Christmas. He replied:

Yes. That is certainly the intention. We will certainly be writing to them. I do not know the day the rate change is due to apply but-----.

His colleague, Mr. Paul Stanley, interjected and said:

We will be looking to have as many as we can back on it before Christmas. Some of them may drift into the very early part of the new year due to process.

We are well into the new year now. From Mr. Kissane's understanding, has Ulster Bank done what it committed to doing to this committee?

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