Oireachtas Joint and Select Committees

Thursday, 1 February 2018

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

Tracker Mortgages: Ulster Bank

9:00 am

Photo of Kieran O'DonnellKieran O'Donnell (Fine Gael) | Oireachtas source

I welcome Mr. Stanley and Ms Arnett. Like my colleagues, I think it is reprehensible that Mr. Mallon did not appear today. We have been pursuing Ulster Bank to come before the committee for many weeks. The bank did everything in its power to ensure that it did not. We have a body of work to do and now we find that the bank has arrived in without its CEO. This is not personal, it is just that the buck stops with the CEO. Mr. Mallon should have been here today. I want to put that on record. The bank has come in here kicking and screaming. It has not come in of its own accord. We have a duty to the public, and in particular to the tracker mortgage holders - the victims - who got caught up with many of the institutions, including Ulster Bank.

I just have a few quick questions. What is the total figure the 1,214 customers who have been redressed and compensated at this stage have received? How is it broken down between redress and compensation?

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