Michael Collins (Cork South West, Independent) | Oireachtas source

I will not mention anybody's name. I well know the rules and regulations here.

This morning, after 14 years, she got a call to say the bank was repossessing her home - the home she owns and lives in with her child. This is only one of many stories. There is much more involved in the case than I have the time to relate to the Minister of State here today. The banks and others need to give honest answers in respect of this case but they will get away with it.

I was talking to another lady, a constituent of mine, today. She was seeking to remortgage her home and initially she got mortgage approval from ICS Mortgages. All of a sudden, however, the ICS had no funds, so she went to Permanent TSB, where she got approval. All she was looking for was an amount equal to twice her salary. It should not have been a problem and, in fairness, it was not - she got approval. Two months later, she is still waiting for the documentation to come from the bank. Her solicitor has all her documents ready to go yet she is still waiting. She wanted these funds to do up her home so that she can rent out two rooms. That would mean she is going to look after two extra people who are probably on a housing list. This lady has done everything right but the delay in her mortgage papers being sent is going to cost her more and more. Two months ago, building material was cheaper than it is today. Furniture was cheaper than it is today. She and others believe this whole scenario of delaying mortgages is happening across the board and behind it all is ripping people off and driving the price of property even higher. Of course, interest rates are increasing as well. That lady would have had a deal done some time back but the bank is not signing off on it.

I suggest that the Bill does not go far enough when it comes to the regular person on the street. From what I have heard and seen, the behaviour and culture of Irish retail banks is despicable. I have no faith in what this legislation is intended to do as I and my constituents believe the banks are a law unto themselves. One just has to look at what happened with tracker mortgages. Bank of Ireland was fined more than €100 million for what was noted as a series of significant and long-running failings relating to nearly 16,000 tracker mortgage customer accounts between August 2004 and June 2022. Despite the massive and life-changing impact of that grotesque scandal at the hands of Bank of Ireland, not a single banker at the bank was personally held accountable. In fact, those responsible continue to work at the bank and obtain bonuses and pay rises, while some of the impacted families are left without a home.

In the little time I have left, I ask the Minister of State, Deputy Fleming, why we still have had no answers regarding the fiasco during summer when AIB tried to pull the wool over customers' eyes by deciding to withdraw its cash facilities to customers. Did the Minister of State know about that? Did the Minister, Deputy Donohoe, or the Minister, Deputy Michael McGrath, know about it? The Minister of State opposite has no interest in what I am saying anyway because he is continually going across the floor to talk to somebody-----

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