Oireachtas Joint and Select Committees
Thursday, 5 October 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector in Ireland (Resumed): Ulster Bank
9:30 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
The bank only met that commitment to a quarter of its customers to whom it had wrongfully denied a tracker rate. They were overcharged on their accounts. Only a quarter of them were put back on that rate before Christmas. This is now one year into the bank's examination. There is no way Mr. Mallon can convince me that this is any way acceptable or justifiable. It cannot be that difficult to do that with 200 staff. I ask Mr. Mallon to convince me on this point. After identifying those customers were on the wrong tracker rate, how, with 200 staff, could he not organise to put those accounts onto the right tracker rate within a period of a year at that stage?
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