Oireachtas Joint and Select Committees

Tuesday, 8 December 2020

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

Financial Services Union: Discussion.

Photo of Mairead FarrellMairead Farrell (Galway West, Sinn Fein) | Oireachtas source

It is very important that the Minister for Finance reaches out to the British Chancellor and puts that on the record with him. Reaching out to NatWest is also extremely important because 3,000 livelihoods, families and communities will be affected by this. Mr. O'Connell outlined that very well in his opening statement. It has also been reported that Cerberus, one of the most aggressive vulture funds in this State, is considering buying up Ulster Bank's entire €20.5 billion loan book. This is extremely worrying for customers because of the amount of pressure and anxiety that puts on them. What impact would this have on Ulster Bank borrowers, its customers and mortgage holders?

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