Results 13,401-13,420 of 35,829 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)

Pearse Doherty: May I clarify that for the benefit of the committee? The information is from the Minister for Justice and Equality. We have got the information from the Garda. The Minister says that in the period between 1 October 2018 and 28 February 2019, there were 19 incidents of insurance companies reporting insurance claim fraud as per the stated guidelines. An Garda Síochána has advised...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: I welcome the delegation's appearance before the committee. I ask Ms McDonagh to address non-performing loans, NPLs, first. Bank of Ireland has reduced its non-performing exposures to the lowest of any of the banks. It has been claimed that the bank has done so without selling any family homes. Will she outline where the bank is at now? Ms McDonagh said that the bank is now close to the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: Will the majority of the risk remain with the Bank of Ireland in those circumstances? The customer will continue to service the loan and the ownership of the loan will be with the Bank of Ireland.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: The beneficiary ownership will be with whatever securitisation vehicle that is there?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: That is very different from the most recent project by the Permanent TSB, Project Glenbeigh. How does that model reduce the NPL exposures?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: Even though the title is there and the bank will continue to service them - and please correct me if I am wrong - the proceeds from them that will go to the SPV but there is a still for the bank. The risk is, hypothetically, if everybody defaulted, that the SPV would have a call on the bank. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: Will there be no difference between how the bank treats those customers and customers who are not securitised through this vehicle in dealing with arrears, interest rates and so on?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: Why is that Bank of Ireland's preferred option, instead of other options we have seen, where there is a transfer of legal title? In the past there have been direct sales, and now Permanent TSB is engaged in securitisations-sales. Why does Bank of Ireland feel that this is the best model for it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: This securitisation is worth €365 million. On completion of this securitisation what will Bank of Ireland's non-performing loan, NPL, ratio be?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: I note that the tracker mortgage scandal was not mentioned in the opening statements of the witnesses. I understand that Mr. O'Beirne met with employees yesterday to discuss their ongoing issues and concerns that the bank has not acknowledged that they were entitled to a tracker rate. Did anything emerged from that meeting to convince Mr. O'Beirne that they have a legitimate case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: I appreciate that Bank of Ireland took up my request to meet that group. That meeting happened yesterday.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: I welcome the fact that Bank of Ireland has met with the representative group of the 200 staff and former staff affected. This issue will not go away. Deputy Michael McGrath and others in this committee have raised this issue and have gone into great detail in terms of the documentation available to us. I refer to verbal commitments, emails received from Bank of Ireland confirming that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: My final point concerns the issue of charges. How can Bank of Ireland justify charging 10 cent for every transaction on a Visa debit card?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: It is a hidden charge. If I go upstairs to the canteen and buy a cup of tea it will cost me 60 cent, but if I use my chip and pin it will cost 70 cent because Bank of Ireland is taking 10 cent every time I carry out such a transaction. If I have €3,000 in my account I will not be charged at all. The people who are being charged these transaction fees are those who are less cash-rich...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: Can Mr. Kelly clarify that, so there is no mistake? A cashier has to type in 60 cent or €1, or whatever the transaction demands. If I tap my card it costs 1 cent. If I put in my card and use my PIN-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: If I tap the card it costs 1 cent and if I put my card in a machine it costs 10 cent.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: How can the bank justify charging ten times more for the same transaction? A person is buying the same Mars bar or newspaper; only the payment method has changed.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: How does Mr. Kelly justify wealthy persons with €3,000 in their account not having to pay charges but such charges being levied on people on social welfare or relying on disability benefit who may not have the ability to have that amount of money in their account?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: It is definitely good value for Bank of Ireland because it made €431 million on the back of fees and charges last year. That is a huge amount of money. It is not just about the differentiation in regard to charges between those who are wealthy enough to have €3,000 in their account and those who are not. If I open an account in Belfast or London, I will not have to pay such...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

Pearse Doherty: The committee will revisit this issue and I hope the delegates will take on board some of the points that have been made as the bank reviews it. On standard variable rates, it appears that in almost all circumstances the bank's customers would be better off on a fixed rate than a variable rate. Obviously, the danger is that variable rates could go down, however unlikely that may be. The...