Fiona O'Loughlin (Kildare South, Fianna Fail) | Oireachtas source

The Minister of State, Deputy D'Arcy is in the House. It is regrettable that the Minister for Finance, Deputy Donohoe, is not here. It is also worth noting that not one other Fine Gael Deputy is here to support him on this hugely important issue that impacts on people from all parts of the country. I could not have heard a more compassionate introduction than I heard from Deputy Michael McGrath. I commend him on all his work on the issue. He is right; it is about real people on the ground. I want to talk about some constituents of mine in Kildare South, who have been very seriously impacted by this.

The Minister, Deputy Donohoe, is welcome to the Chamber.

One couple, let us call them Tom and Mary, have been waiting for six months for clarification from their bank. They have struggled over the past ten years to pay their mortgage with the repayment at times being more than 50% of their net income. Their level of repayments has hugely impacted on their lives in a very negative way. It has impacted on their work prospects and their mental health. They have small children and often they were two pay packets away from having their home repossessed. They have suffered enough and it is about time the banks were forced to repay the money that was stolen from them.

Another young man, Derek, is in a similar situation. He has had practically no disposable income for the past six years. He and his partner have not been able to afford to get married or start a family. He has fallen behind in utility bills and is not able to afford coal or other fuel during the winter. He cannot afford to pay the Revenue Commissioners and has received threats of court action and sheriff repossession. This period has involved stress, worry and ultimately depression for him and his family. There are many more like him and the story gets worse because many have lost their homes.

Fianna Fáil supports people like Mary, Tom and Derek, who have been denied their contractual rights by banks. We call on all the banks to identify all the customers affected to instantly restore all affected customers to their tracker rates and most importantly to pay redress and compensation to all. This is nothing short of a scam and it is a national scandal. It is illegal and immoral, and we demand action now.

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