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

They may all be from one address but I must check that.

What we have heard does not reflect the experience of customers who have been treated very badly by vulture funds. They have been harassed and harangued by them and chased down like criminals. The vulture funds will not appear before this committee for some reason in case they have to be transparent or are asked awkward questions. They behave in a way that is unacceptable in this State, certainly to me. One cannot contact them by calling a contact person. I use this meeting to ask those funds to send us in a list of people we can contact on behalf of clients should they wish us to do. We do not have contacts. People who are under pressure find it extremely difficult to track down emails or phone numbers for vulture funds to have issues dealt with. The only time people hear from the funds is when they want money. They never make follow-up calls and are unhelpful.

Is the Central Bank pressurising the banks directly to sell their loans?

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