Paul Murphy (Dublin South West, Solidarity) | Oireachtas source

That is the point. That is the case EBS is making. The code of practice was not in operation at that time but one would hope that the bank would generally operate in the spirit of the code of practice. The code states that before providing a product or service to a consumer, a regulated entity must gather and record sufficient information from the consumer to enable it to provide a recommendation or product or service appropriate to that consumer.

The letter to the guy says that the bank confirms that it was standard practice to inform customers of all interest rate options at the time of application and on request. The tracker is an interest rate option and he was not informed about it at the time he came off the fixed rate. It also says that EBS staff do not provide advice on which interest rate option to choose, that it is the customer's decision and the obligation rests with him or her to advise the bank accordingly. Is that not in conflict with the spirit of the code of practice, which is to provide recommendations and so on that are appropriate to the customer?