Oireachtas Joint and Select Committees
Tuesday, 6 February 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Tracker Mortgages: KBC Bank
4:00 pm
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
Then why is KBC so far behind? Ulster Bank is one of the outliers, but KBC takes the main prize. It is the worst in terms of both redress and compensation and in putting customers back onto their tracker rates. We are talking about fine language but, as we speak, the bank is automatically deducting money it is not entitled to from its own customers' accounts every single month. There are still 2,500 customers on the wrong rate. I am a customer of KBC, my mortgage payment goes out at the start of the month. I am not an impacted customer, but if I was, on the first Monday of this month KBC would have stolen money from my account that it is legally not entitled to, despite the fact that it has known for quite some time that what it is doing to these 2,500 customers is wrong. How can Mr. Verbraeken justify that?
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