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

I will ask the individual to provide the details. I am sure that this individual is not the only one and I am sure they have gone through all the processes within the bank.

Let me tell Ms McDonagh how I am 100% convinced. Before Ms McDonagh's time, but only four months ago, bankers from her bank sat there when the chairperson questioned them. At that stage, they were telling us that none of the 1,850 customers would be deemed impacted. The chairperson went through line by line, with Mr. McLoughlin, how the bank could verify that, how the committee that was set up scrutinised all the work, and how that committee was independent, etc. The reality is we just must keep on pushing and the bank will finally accept what should have been accepted a long time ago.

We are coming to the end of this process but there is much still to be done until we get there. The bank has a responsibility. If Ms McDonagh wants to talk about the culture of the bank, she should not be tarred with the culture of the bank that she joined. This one, whatever about the rest of it, hangs on Ms McDonagh. I plead with Ms McDonagh to do right by her staff, current and past, to deal with this issue compassionately, as she talked about in her opening statement. This is where the proof of the pudding lies.

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