Oireachtas Joint and Select Committees

Thursday, 2 March 2017

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

Financial Services Ombudsman's Bureau - Strategic Plan 2017 and Tracker Mortgage Issues: Discussion

10:00 am

Photo of Maurice QuinlivanMaurice Quinlivan (Limerick City, Sinn Fein) | Oireachtas source

I thank Mr. Deering for his presentation. I am substituting for Deputy Pearse Doherty who was unable to make it to the meeting. I am sure the office will need more resources and will be making a request in that regard to the Minister.

I note the work of the office thus far on the tracker mortgage issue. While, without doubt, it has been valuable to consumers and so on, some of the contacts we received recently were not exactly universal praise for its actions in that regard. Mr. Deering said that from 2009, the office upheld complaints on the tracker issue. Was there a trickle or a stream of complaints at that stage in 2009 and does Mr. Deering believe his office escalated the issue quickly enough once a pattern emerged or does he believe in retrospect that it should have rang the alarm bells sooner? In regard to Mr. Deering's statement that following his appointment he commenced a comprehensive analysis, should that process have been commenced earlier by the office?

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