Oireachtas Joint and Select Committees

Tuesday, 6 February 2018

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

Tracker Mortgages: Permanent TSB

4:00 pm

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

I wish to make it clear that when I talk about Mr. Masding, I am talking about the bank that he represents. I have nothing personal to say against him. I passionately believe that until bankers are held individually to account for the actions that they have taken individually and collectively, this type of scandal will continue to present itself time and again.

I wish to ask about the so-called systems error. When an individual came off his or her fixed rate contract and when his or her contract stated very clearly in special condition No. 6 that he or she would roll back on to the tracker mortgage rate, where was the systems error? The contract clearly states in black and white at special condition No. 6 that the customer will go back on to a tracker mortgage but that was denied by the bank. Please explain where the systems error occurred.

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