Oireachtas Joint and Select Committees

Thursday, 11 April 2019

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

Matters Relating to the Banking Sector: Allied Irish Banks

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

I have a series of questions. The issue of the prevailing rate has been well teased out and I echo Deputy Michael McGrath's final contribution. Mr. Hunt has said that the tracker mortgage scandal has been a stain on the reputation of his bank and indeed the Irish banking industry. It will be a personal stain on Mr. Hunt's reputation as a chief executive officer if he does not deal with this properly and the courts find against AIB. These are the vast majority of impacted customers identified within Mr. Hunt's bank. We are 11 years on from when this issue occurred and there are nearly 6,000 people affected, many of whom feel they have not been properly redressed.

There was a bit of a play of words earlier when we were speaking about service breach and contract breach and those are significant terms. Is it AIB's position that there was no contractual breach in any of the 11,934 cases of individuals who were impacted by the tracker mortgage scandal?

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