Carol Nolan (Offaly, Sinn Fein) | Oireachtas source

Tá mé an-shásta as ucht an deis labhartha anocht ar an ábhar fíor-thábhachtach seo atá ag cur isteach ar na mílte clainne ar fud na tíre. As we know, the scandal of the tracker mortgages affects up to 15,000 mortgage holders across the State. The pace in addressing this scandal has been painfully slow. It clearly shows that there is absolutely no urgency in terms of remedying this issue, which has caused great distress to too many families across the country.

The update on the examination of tracker mortgages in late December 2016 states the following: "Based on current progress we expect that relevant lenders will have identified and commenced engagement with impacted customers by mid-2017 with payment of redress and compensation, processing and consideration of any appeals... continuing beyond this point for some lenders." While lenders have dragged their feet on this issue and are clearly in the wrong, dozens of families have been forced out of their homes as a result of the extra costs they incurred on a more expensive mortgage. That is totally unacceptable. This Government has a duty to protect and defend all of its citizens. We should uphold the vision of the 1916 Proclamation of equality and fairness for all of our citizens.

This scandal only came to light due to the actions by various householders in taking their cases to the financial ombudsman. It would never have come to light otherwise. I commend them on their courage and determination. Now these families must wait for justice and that is totally wrong. It is not good enough and we in Sinn Féin will not accept it. We will not stand idly by when this happens. Clearly, there is a need to develop more appropriate and robust legislation to ensure that individuals in financial institutions can be held responsible before the law for their actions in financial matters.

This motion is an opportunity to send a very clear message to the victims of this scandal. As I said, there have been too many victims and it cannot be ignored. We must send a message that the Dáil is on the people's side and not on the side of the banks, which represents corporate greed and acts in an absolutely disgraceful manner. I call on all parties to support this motion.

See this speech in context