Oireachtas Joint and Select Committees

Thursday, 28 September 2017

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

Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank

9:45 am

Mr. Ger Mitchell:

When customers engaged with the organisation with regard to the appeal, a compensation scheme to which all customers were entitled was agreed. Customers then had the right to furnish an appeal to one of two appeals panels. The was an independent review panel and a customer's appeals panel. The independent panel was for those at a very advanced stage in the legal process or for those who may have lost a property. The other appeal panel was for customers who had not experienced loss of ownership or were not at an advanced stage in the legal process. Those appeals were submitted. A total of 18% of the 1,372 decided to progress and appeal, and 27% of them have been successful.

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