Joan Burton (Dublin West, Labour) | Oireachtas source

This is a simple question on the tracker mortgage process and redress being effected to bank customers. The requirements provide that banks must place customers on an appropriate tracker rate of interest. However, the banks are free to come up with offers of compensation and are not required to ensure customers obtain redress. This is a serious wrong on an issue that has affected many thousands of families and resulted in some families losing their homes. Now that redress must be paid, there is no structure by which the banks must pay the appropriate rate.

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