Oireachtas Joint and Select Committees

Thursday, 24 October 2019

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

Tracker Mortgages Report: Central Bank of Ireland

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I remind our guests that when the Central Bank representatives came here first, they told us there would be 3,400 cases. That was way back in the past. The former Governor, Professor Philip Lane, told us that and we adjourned a meeting in order to find the correct figure. It has grown since to 40,500. I really hope the cases involving Bank of Ireland and AIB are dealt with. I know the witness will not want to comment on that and I will take it up with the financial ombudsman. It is an indication of the culture that still exists within banks that they have the best lawyers and they are financially well equipped so they can deal with these matters simply by stonewalling individuals and refusing to accept they are human beings at the end of the day. They show no compassion or humanity. It is a matter for the ombudsman. The figure of 40,500 may grow substantially over time when the ombudsman begins to deal with what he must deal with.

Does the Central Bank deal with individual complaints about trackers or banks in general?

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