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 am speaking about people who are making payments. There may be people who are not paying the bank any money and are not engaging. In regard to individuals who are making contributions to the bank, how concerned would the bank be if a vulture fund, as a policy option, offered a person in arrears 30 days to clear those arrears and where the arrears were not cleared the fund appointed a fixed-asset receiver to take possession of the property? This is an action that no bank in this State has taken as a sweeping policy option. The banks may have considered it in an individual case where somebody was not engaging. As a policy option, how concerned would Allied Irish Banks be that a vulture would do that because it has the right to do it?

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