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 Gerry HorkanGerry Horkan (Fianna Fail) | Oireachtas source

I do not want to go over old ground. I was here for almost all of the contributions and the opening statement. I have gone through the bank's questionnaire and listened to most of the other members' contributions. There are 200 staff working on the tracker issue and only 40 cases have been mediated. I accept that if I ask questions about the 40 it is with regard to approximately 1% so it may not be indicative of the overall. What has been the size of the remediation? There is the remediation element, as in bringing people back to where they were if it had not happened, and the compensation element. I was intrigued by why arrears versus non-arrears have different levels of compensation. Are we saying that people who were not in arrears got less compensation than people who were in arrears? Will the witnesses explain this to me?

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