Brendan Howlin (Wexford, Labour) | Oireachtas source

The tracker mortgage scandal has now affected 13,000 customers, with that number expected to rise. A total of 102 houses and apartments were repossessed as a fallout from the scandal. A total of 23 of these were family homes and a further 79 were buy to let properties. Put simply, 23 families were put out of their homes as a result of what can only reasonably be described as malpractice on the part of the banks. As the Central Bank has made clear, only 25% of those have received redress or compensation.

The Central Bank wants all banks to start their compensation programmes at the end of the year. Only three banks have even done anything to date. This problem started with PTSB, but it is now clear there was a sector-wide approach across the banks that disadvantaged mortgage holders. The Central Bank says it has no choice but to move slowly on this issue, but that is clearly not good enough when we see the level of real harm done to families. It is not good enough for the thousands of families who have been ripped off to the tune of thousands of euro, and it is certainly not good enough for those who have been put out of their homes.

We now know that two banks are being pursued by the Central Bank for ongoing failure to identify customers caught up in the scandal. In the name of public accountability, will the Taoiseach write to the Central Bank and make the names of these banks public? The Central Bank has said that legislation giving it power to compel banks to give a certain level of compensation can only be applied in cases occurring after August 2013. We know some of these cases go back to 2008. Has the Taoiseach considered amending legislation to require all banks to pay a set level of compensation where they have ignored contractual obligations to mortgage holders? Will the Taoiseach give us a definitive timeline as to when all impacted customers - and some as I have said were grievously impacted - will be identified, when the ongoing harm to them, their families and their well-being will be stopped, and when all affected customers can be expected to be given proper redress and compensation?

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