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 John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I want the bank, as it sells the loans, to ensure that does not happen. I have given an example already in terms of the case concerning the individual who wrote to us.

All of this brings me to the global restructuring group, GRG, and I know Mr. Stanley may not wish to comment. Of all of the banks to have come before the committee, Ulster Bank has offered the excuse of the closed period more than any other bank when answering questions. Fair enough, Ulster Bank has adopted that stance. Earlier this week, Mr. Stanley's RBS boss somewhat acknowledged that the global restructuring unit did not treat customers fairly, while being grilled by a committee in the UK. This is an overview of what he said but that seems to have been the case. We have heard from a number of customers who have been involved with the global restructuring group. Arising from Mr. McEwan's comments at the UK committee hearing, is it within the remit of Ulster Bank here in Dublin to state at the very least that something seems to have gone wrong and it will conduct an inquiry into the customer base that may have been affected here in Ireland? Can Ulster Bank here make that decision?

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