Oireachtas Joint and Select Committees
Thursday, 20 April 2023
Public Accounts Committee
2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed)
9:30 am
Imelda Munster (Louth, Sinn Fein) | Oireachtas source
These went into arrears because of the illegal, if you like to call it, interest rates. They were charged incorrect interest rates so it was through no fault of their own. Now, as has been said, they must pay twice the original interest rate and, in fact, some people are paying 7% interest. So far this morning I have not heard anything from the Governor or his colleagues that would offer comfort to those people who are suffering huge financial distress.
The Governor has said that the Central Bank will do something or is looking into matters and there is an ongoing process. What exactly will the Central Bank do, or is looking to do, for these individuals? Will the Central Bank review these cases and ask the banks to buy back the mortgages?
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