Oireachtas Joint and Select Committees

Thursday, 19 October 2017

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

Engagement with the Central Bank of Ireland

9:30 am

Photo of Rose Conway WalshRose Conway Walsh (Sinn Fein) | Oireachtas source

People want to be able to engage with a human being at a sensible level in the branch. People have been extremely patient to the detriment of their mental health and many other things that were outlined earlier. They have run out of patience.

Ms Rowland mentioned "punitive". When punitive comes to mind, I think of the punitive charges and interest rates that banks charge to consumers, particularly if they overrun and money is owed to the banks. How long does it take to make very simple calculations without looking at the compensation and just the redress element? If somebody is owed €10,000, it cannot take much time for somebody in a bank to calculate the interest and to be able to tell the person that while the bank has not yet looked at the compensation element in terms of quantifying the impact it has had on the person's life, this is the figure for redress being offered. Why can that not be done promptly on a large scale across all these accounts?

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