Oireachtas Joint and Select Committees

Thursday, 12 October 2017

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

Banking Sector in Ireland (Resumed): Customer Experience

9:30 am

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

I commend the bravery of all our guests. Hopefully, their bravery will encourage whistleblowers from the banks and financial institutions to come forward and give us the evidence we need. We have called for a class action. There is a Law Reform Commission report and legislation and orders have been drafted since 2005 to allow for class actions. I hope it will be acted upon so the victims of the scandal can take actions through the courts as a group.

My question is for Mr. Kissane. He mentioned earlier that he thinks the final number is closer to 30,000. We know the banks have all submitted their phase 2 information. KBC has missed the deadline so at least one bank missed it. The Central Bank will now have a good handle on what the banks have identified. Does Mr. Kissane believe the figure will creep up above 20,000 or does he believe that there are still some outside the scope of the review?

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