Oireachtas Joint and Select Committees
Wednesday, 20 September 2023
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Issues: Central Bank
John McGuinness (Carlow-Kilkenny, Fianna Fail)
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I attended a meeting of the Irish Banking Culture Board last week. I was shocked to hear Padraic Kissane tell me that some of the harrowing cases we heard at this committee at the very beginning of the tracker mortgage issue had still not been resolved. I know the Central Bank does not deal with individual cases. He was not dealing with individual cases, but the day they came before us people poured out their life stories to us. The level of information they put out about themselves and the difficulties they had took everyone in the committee by surprise. We could not help but be moved by the stories they told of the experiences they had with banks, how that affected their lives, how they lost everything, how they lost homes and so on.
For Mr. Kissane, who was the one we were dealing with and they were his clients, to tell us that cases have not yet been resolved shows us how bad the banks are about dealing with some of these cases. Is there no urgency that the Central Bank can bring to banks regarding issues going back 12 and half years in the EBS or the tracker mortgage issue and the destruction of a person's life and well-being?
Still, they are not resolved. How many more tracker mortgages have to be dealt with?