Oireachtas Joint and Select Committees

Tuesday, 4 April 2017

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

Banking Sector: Quarterly Engagement with Central Bank of Ireland

10:00 am

Photo of Paddy BurkePaddy Burke (Fine Gael) | Oireachtas source

In respect of tracker mortgages, as members of this committee, we have received an enormous amount of letters, queries and questions we have been requested to ask.

We are the voice of those people and we should be asking questions. However, we would be here until Christmas if we asked every question we have been requested to put to the Central Bank at this committee.

Professor Lane passed the buck when he said that people should go directly to the bank with their correspondence. In many cases, they are not getting any response from the bank. They do not know where they are at. They do not know when their tracker is going to be restored or when they are going to be paid their compensation. Bearing in mind that Professor Lane said that the framework requires each lender to appoint an external independent party to oversee the conduct of its examination, where does he think these people should go with their queries?

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