Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

A real wrong was perpetrated on people here and that is why Deputies in this House continue to raise the issue. It is not a Mickey Mouse issue. I will bring the Minister's attention to an e-mail we received during the week from a customer of KBC who said that he is paying €600 extra per month above what he should be paying and has been doing so for the last seven years. He has paid, over that period, €50,000 more than he should have. That is the scale of this for some people. It is absolutely enormous and it is life changing.

What really frustrates me is that we cannot get access to very basic information. In the case of each bank, how many customers have they reinstated to the correct rate? There is no deadline on the banks to do that. There was a deadline to complete the assessment of their customers, to identify the accounts and so on, but there is no deadline on the reinstatement of the correct rate for customers. Even where customers are being reinstated we now have the new phenomenon of tracker rates of 3.67% in the case of AIB and 3.25% in the case of Permanent TSB, which is a farce. It is still going on. That is the problem. It will continue to be raised here until we can get answers to some very basic questions, which are not being answered by parliamentary question or whatever other means. I assume the Minister is frustrated too because he is not dealing with it directly; it is the Central Bank. Will the Minister share his thoughts with us?

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