Oireachtas Joint and Select Committees

Tuesday, 30 January 2018

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

Tracker Mortgages: Bank of Ireland

7:10 pm

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

We asked the bank a question about hearing from customers and it provided a written answer. It answered that the offer of redress and compensation is the offer and customers should go to the independent appeals panel so unless a customer informed the bank that he or she contemplated taking his or her own life, the bank would not be aware of it. If such a person was performing and not in arrears, the bank would have given him or her €650. If the person had to go into a restructuring arrangement, it would be €1,000. It is a very simple. The bank has disrupted these individuals' lives, in some cases in a dramatic way, and the bank has stripped emotion from all of it. It has done what bankers do. It has put a price on the pain and suffering people have gone through. It is a one-size-fits-all approach and it is left up to the customers. We know it is human nature that often people who have been ground down will not appeal and not everybody will go to the courts.

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