Results 15,301-15,320 of 27,945 for speaker:Michael McGrath
- Leaders' Questions (4 Oct 2017)
Michael McGrath: There is a coalition on the way.
- Leaders' Questions (4 Oct 2017)
Michael McGrath: This is a love-in.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: I welcome Mr. Mallon and his colleagues and thank him for his opening statement and the information provided in advance of the meeting. I will start with the examination of tracker mortgages. A lot of Ulster Bank customers are very interested in this hearing and they have been contacting members with questions and telling us their own stories about the impact this issue has had on them. As...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: When were customers put back on the correct rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: That is March 2017.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: That was 57.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: When did the bank start its trawl? The Central Bank-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: Please do.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: The Central Bank notified Ulster Bank formally of the tracker mortgage examination in December 2015. It would have started its work shortly afterwards. At what point did the bank realise the figure was as high as 3,500? When did that become clear?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: On the issue of redress and compensation, has the bank started to pay anyone back the money they were overcharged, in some cases for many years?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: Fewer than 40 have had redress and been repaid.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: With all due respect, does Mr. Mallon really think that is good enough? Last December, he told us there were 2,000 customers who had been affected. The figure is now 3,500, of whom approximately 1% have been repaid the money the bank overcharged. If the shoe was on the other foot and these customers owed money to the bank, it would not be shy about chasing them for it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: How many people are working on it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: If one takes each individual customer, there was a point in time when he or she was entitled to go back on a tracker rate, but did not because it was not offered. At another point in time, that was discovered and identified. It is not that hard to calculate how much the customer overpaid on the mortgage every month and every year over that period. It is not that difficult.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: We all have to remember the human stories behind each case. We have all heard some of those stories in recent weeks when people found out that the bank was coming here. Some very harrowing stories and life changing situations were set out by people who, in some cases, paid tens of thousands of euro more than they should have over a period of years. It is devastating. The bank told the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: Is Mr. Mallon saying he has not identified any new ones?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: What is the number at now? Mr. Mallon said it has gone up.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: What has the bank done for them?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: How does the bank begin to compensate somebody who has lost their home? What commitment is the bank giving on that issue? Will it help them, in some cases, to get back the house they had, if that is possible, or, in other cases, to find another home with which they are satisfied? How does it start to help people who have had that devastation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)
Michael McGrath: On the overall picture, what commitment is Mr. Mallon giving today on when the redress will be completed for the vast majority or for all customers and when will the compensation be paid? What is the overall picture and the commitment the bank can give?