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

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Just under 40, which is not good enough. The Central Bank told us that in February 2,600 customers across the banks were given redress. I take it that not one of Ulster Bank's customers was given redress in February. We have been critical of delays in some of the other banks, but how is it that they could get their act together and start not only putting people back on tracker rates but also issuing letters of redress and paying compensation? Some seven or eight months on, Ulster Bank has still not issued any letters of redress or given redress to its customers, bar 40 individuals. How many people are affected? Is it 3,500? Can Mr. Mallon explain to me and, more importantly, to its customers how the bank is so far behind other financial institutions of a similar size?

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