Oireachtas Joint and Select Committees

Wednesday, 14 September 2022

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

Banking Issues: Discussion

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I will finish on this point because I understand Dr. Hunt cannot make a decision that the board has not made and that he cannot communicate it here, but can I impress on him to make the right decision? His bank should absorb these costs and not increase its profitability, which would be the consequence of passing them on to the customers. The decision should be made quickly. His bank should communicate that to customers. It got it wrong on tracker mortgages, on branches and on the investigation into the scandal relating to tracker mortgages, which I did not even touch on. Some of the payment continued during that period. His bank got it right by absorbing the 50 basis point interest. It can get it right again. That would be a customer-centred approach.

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