Results 8,941-8,960 of 36,192 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)
Pearse Doherty: It is crucial that we have some sort of restructuring plan approved in order that the bank can move on and there is a bit of certainty.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)
Pearse Doherty: I welcome the fact that mortgage arrears are coming down. I do not have time to go into the details of the solutions that Mr. Masding is offering. I have concerns about the legal area on which there is a heavy focus. I received a letter which contained important comments. Mr. Masding has continually said that he is proud of the bank's mortgage arrears procedures, and he has made similar...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)
Pearse Doherty: I thank Mr. Masding for that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: I will not go over old ground but I agree with the questions that have been teased out regarding the cost of funds. The bank must deal with the variable interest rate mortgage holders as soon as possible. I welcome the finding of the Central Bank. It imposed the heaviest penalty it could, although there are questions as to whether a penalty of €3.5 million is sufficient for a bank...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: We are under a time restriction and I am aware of the compensation. Mr. Brown has dealt with it previously. How many customers were affected in the first place? How many of them did not receive compensation or have all of them received compensation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: What was the total amount of the compensation paid?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: Mr. Brown said the issues have been resolved and that Ulster Bank is able to run its own systems in the island of Ireland. Is the Central Bank satisfied that the issues with Ulster Bank's IT have been resolved satisfactorily?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: No, has the Central Bank informed Ulster Bank that it is now satisfied with the procedures Ulster Bank has in place?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: Has the Minister for Finance received from the Central Bank the report on what happened at that time? There were suggestions that there would be such a report.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: Does that mean published?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: Have the findings of the review that has been completed been submitted to the Minister for Finance here?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: The issue two years ago was huge and impacted on many customers, North and South. There have been other issues in the bank in respect of IT. This year the bank miscalculated tax relief for 7,500 customers and it is now imposing a penalty on them for that miscalculation by the bank. If Mr. Brown understands how stretched people are in terms of disposable income, the mistake the bank made...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: In plain terms, the bank is making a mess of it. It screwed over - excuse my language - its customers, who still remain loyal to the bank, for months on end two years ago. It then miscalculated 7,500 people's mortgage interest tax relief. They got a benefit which the bank is now claiming back, something which it fails to understand. On top of that, it had to apologise to 1,300 customers...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: Is the IT system now on the island of Ireland?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: There is no plan to take the system back under control on the island.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: I have raised the issue of the global restructuring group, and I welcome the fact it has been wound up. It was simply a means of liquidating sustainable Irish businesses to satisfy the parent group. As regards SME loans, does the bank intend to apply to the strategic banking corporation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: Is there any timeframe as to when those type of loans can start flowing?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: I note Ulster Bank has appointed Ernst & Young as its auditors. Given that it audited Anglo Irish Bank and there were investigations and issues, is the bank satisfied about the appointment in terms of customer confidence at this point in time?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: I refer to the figures on mortgages. Legal enforcement was mentioned. Some 4,690 family homes are going through the legal process. From what date do the figures begin?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: Ulster Bank has sent letters advising legal action to approximately 2,000 customers and some 2,330 court proceedings have been initiated. How many of those cases will progress to the stage of obtaining a court judgment?