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

The Central Bank is insisting that redress is paid by the offending banks to persons affected by this issue, even if the redress obligation arises prior to the 2013 Act. In addition, affected customers do not have to accept the compensation offered and may go through an appeals process without prejudice to their other options of taking a second route of appeal, making a complaint to the Financial Services Ombudsman or taking their case to court. The Central Bank is conscious of this issue and is insisting that full and appropriate address is paid by the banks to all affected customers.

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