Oireachtas Joint and Select Committees
Thursday, 7 December 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion
9:00 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
There are two major issues. Customers have to be put back on tracker rates but there is also the issue of compensation and redress, as well as the debate around the prevailing rate. Mr. Deering is aware of the level of compensation the banks are offering their customers. There are individual circumstances, but the system is based around a standard formula. Has the level of compensation for cases which have been upheld by the ombudsman before the tracker examination by the ombudsman been higher, lower or in the same ballpark?
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