Oireachtas Joint and Select Committees

Wednesday, 30 June 2021

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

General Banking Matters: AIB

Mr. Jim O'Keeffe:

As Dr. Hunt said, this is an issue that has been discussed. For the purpose of this afternoon's discussion, we have to be cautious around the fact that, as Dr. Hunt mentioned, from our stakeholders' point of view, we cannot prejudice any ongoing litigation. Clearly, we have to avoid any commitments that we might inadvertently make this afternoon that could prejudice it.

As the committee knows, we use mediation on many fronts. We have been working with customers through mediation over a long period, especially customers in difficulty.

We have worked through mediation. There is no question about whether we would use mediation in particular scenarios. This afternoon, we are not at liberty to commit to using mediation in this specific instance. I am willing to take that away to look at the legal side and where that would leave us. I have to refrain from committing to entering into mediation. I cannot go into the details of the case. The committee had the opportunity to meet with the agents on this side. Unfortunately, it is not our policy, as it should not be, to disclose any details about these issues. As the committee is aware, this is a complex, long-running issue. The course of action that has been taken is a result of all of that. It is not unwillingness on our behalf to try to close past issues. It is embedded in the complexity and some of the circumstances of the case. Notwithstanding that, Ms Dooley and I will look at what impact there would be if we considered anything at this time. From a legal point of view, that is probably as far as we can go today.

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