Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I have responded and I will continue to engage with the Central Bank, but I think there is also a responsibility for the Minister and the Government to engage with Permanent TSB, for example, to ask it about this section, which the courts have ruled was tantamount to misselling a product, and why it did not disclose to people who bought payment protection insurance that it had a relationship with the underwriter, which it was legally responsible to disclose if that relationship was above 10%. The other institution which I have concerns about is Ulster Bank, which also needs to be investigated.

The test case taken was against a financial institution. I believe there were thousands of contracts entered into by that institution, which also had its products missold. The problem is that those consumers do not know it. They do not know about the case taken to the High Court last year. They do not know that the appeal was withdrawn. They do not know, in all likelihood, that what probably happened was that there was a settlement reached with this individual. I can only imagine. It is important that the Government steps in here, brings information to consumers and makes sure it is properly investigated.

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