Oireachtas Joint and Select Committees
Thursday, 21 September 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector in Ireland: Bank of Ireland
9:30 am
Mr. Liam McLoughlin:
We built a model to work out the financial implication for the customer and to pay that redress.
The Deputy has reminded me that we did a very significant review of tracker mortgages in 2010 under the review of the Central Bank. At that stage, 2,100 customers were put back on tracker rates and up to 3,000 other customers were put onto a tracker rate at their next contract term date. Back in 2010, approximately 5,100 customers were addressed.
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