Michael McGrath (Cork South Central, Fianna Fail)
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What role does the board of directors have in dealing with mortgage arrears? How regularly does the board deal with this issue? What reports does it receive as to how the bank is dealing with mortgage arrears? Permanent TSB's arrears rate is higher than the average which is a concern as this is a core element of the bank's business. There is a frustration among borrowers that the situation is not being dealt with. The personal insolvency regime will be up and running in the next several months. Hopefully, this will incentivise the banks to deal with cases that have to be clearly dealt with. What level of involvement do the public interest directors have at board level in dealing with mortgage arrears?