Mattie McGrath (Tipperary, Independent) | Oireachtas source

The infamous American bank robber, Willie Sutton, once said: "You can't rob a bank on charm and personality." What the Irish banks have proven, however, is that one can indeed rob the people on charm and personality. I am referring to the latest example of our predatory banks' behaviour with respect to tracker mortgages. I believe it is important that we speak about this not only because of the obvious need to give redress to the victims of the institutional scam that has unfolded, but also because it is episodes like this that reveal where the real centre of power lies in this country, unfortunately. We in here might like to think that the Oireachtas and this House is where the authority resides but, sadly, we are being shown every day that this is not true and that it does not reside here at all. When scandals like this happen, those who are really in control are fully revealed, and we know who they are.

The so-called pillar banks and others seem to have a free hand to do as they wish, when they wish, to whom they wish, and especially to the little people and the ordinary people. The attitude very much appears to be that if the people and families lose their homes, tough luck; if families unfortunately lost loved ones through suicide due to the stress of trying to meet mortgage repayments, that is their own tough luck.

If the children must endure the pain and suffering of seeing their parents tormented, demented and driven to bad health by the debt and the bullying of the banks, is this their own fault as well?

This is the kind of attitude that lies at the heart of our banking culture. It is rotten to the core and worse, it appears that all regulatory attempts to get rid of it have utterly failed. The banks have done absolutely nothing to voluntarily disclose this latest fraud perpetrated upon tens of thousands of our people. Only when the glare of the public spotlight is forced upon them do they rush out with their pretence of sorrow. It is a small pretence. They know from experience that the best strategy is simply to ride it out and keep the head down. Soon the huffing and puffing and the tough talk of the Government will die down and it will be a return to business as usual. That is all we have seen so far but it will not and cannot ever be business as usual for the tens of thousands of families that have been affected.

I spoke with a couple yesterday that had no idea, until last Friday, that they had been swindled by their lender Ulster Bank. They had no idea. They received a letter last Friday from Ulster Bank telling them that as a result of an internal review, the bank was now aware that it had been overcharging this couple between 2009 and 2015. Ulster Bank explained to the family that even though they had a tracker mortgage the bank had taken it from them and they had not been on the tracker for the past six years. They purchased their house in 2005 but were forced to sell it in 2015. Ulster Bank informed them that they had been overcharged by €40,000. The couple was offered €4,000 by way of redress. Is this the banks' own summary justice system in operation out there for robbing? Ned Kelly robbed from the rich to give to the poor. The Minister is allowing the banks to do this but there is no one to take it off the rich now. Does the Minister agree that the people of this country have been taken for absolute fools by the shadowy cabal of bankers who seem to lack even the slightest element of social conscience? Will the Minister agree that some of these people need to be brought to justice, tried, handcuffed, brought before the courts and sentenced to prison? A prison sentence would be too good for them as far as I am concerned. They should be out rebuilding the lives of the families they have destroyed.

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