Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

It is a very serious situation, as the Deputy has outlined. It is worse than was described by Deputy McGrath. Some 15 lenders are covered by the inquiry including Bank of Ireland, Permanent TSB, AIB, Ulster Bank, KBC, ACC Loan Management, Bank of Scotland, Danske Bank, Dilosk limited, Irish Bank Resolution Corporation limited, Leeds Building Society, Pepper Asset Servicing, Springboard Mortgages limited, Start Mortgages limited and Stepstone Mortgage Funding limited.

The Central Bank is inquiring into all of them and it will be up to it to come forward with proposals, but it stretches the bounds of coincidence that all these institutions would have arrived separately at a conclusion to proceed incorrectly.

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