Results 16,421-16,440 of 26,653 for speaker:John McGuinness

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: To follow on from Deputy Burke's point and Ms Rowland's reply about the bank dealing with a query at first hand, the context she outlined is not happening in many cases. That is where lies the difficulty. As a result, we have received volumes of correspondence from clients of banks that have been badly affected. I will deal with some of their cases. For example, clients may have written...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: I apologise for interrupting Mr. Sheridan. This is just an example of how people are being treated by a bank that is becoming more arrogant by the day, and most banks are. I wish to put on the record that I see a significant difference between the manner in which banks previously treated their customers and the manner in which they are doing so now. This customer I referred to says there...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: When the Central Bank gets a letter like this, where does it go? What happens after it gets a letter of complaint from a couple in such a situation? What is the process after they outline to the Central Bank what the issues are?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: This couple wrote to the Central Bank on 20 March 2017. The witness might check the correspondence because I believe the couple have been treated badly by the bank and they are desperately looking to the Central Bank for assistance. Having read the documentation, they have what I would consider to be a fair case. In another letter, the correspondent writes that Ulster Bank, which gave us a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: This person has been in the system for 18 months, getting regular letters from Ulster Bank. Having read much of this correspondence, it might be time for the Central Bank to call out some of the names of the banks that are simply falling behind, because it is not acceptable.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: I am asking the Central Bank to use its powers to hold these institutions to account. There is another letter where the correspondent has been waiting for seven years. Looking at the correspondence and what is going on, it is shocking that banks do not even reply to these people. The answer is, of course, to bring back in the individual banks, and I am afraid it is something we will now...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: I will read the following paragraph into the record because it tells one everything:As one of the original PTSB 1,372 it would be hard for me to portray in words the effect that the past eight years have had on my life. Rather than being of help the past two years, since my account was identified as part of the redress scheme, have left me drained. The fight has all about but gone from me....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: Get the banks to do it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: I have to pass on two comments to you. The first relates to Ulster Bank and, again, I do not expect you to comment on an individual bank. The lady concerned had to use her solicitor to get the documents she was entitled to from Ulster Bank. That is not right. The second relates to AIB. The person says that AIB refused to supply them with details on their various accounts and that there...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: The point is that when the individual takes action and tries to find out the details of their situation with the bank they are being stonewalled. They have to continue to pay the inflated cost of their loan while they are waiting for the Central Bank. It is clear from the correspondence that unless they take action, the banks will just ignore them. It seems to me that the banks are not...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: I just want to press this point. When one looks at this, and when one examines the correspondence that we have all received, and there is a huge amount of it, it is clear that the bank took action to take money from their customers illegally. Now they are going to redress it. They are now robbing the rights of the customer to proper redress and proper compensation by dragging their heels...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: I am sorry, Professor Lane. Are you saying-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: Does that include the cases where people who engaged with the bank cannot get their information? I have two short questions after this, but my last question on this issue is if we send all this correspondence on to Mr. Sheridan and if we redirect every letter that comes in to him, will he take it up with the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: The other question, and I do not know how this is dealt with, is about the issue of EBS tied agents. Is that something to which the Central Bank has a resolution?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: The EBS tied agents seeking justice wrote to the Governor of the Central Bank on 3 February 2017 in regard to their issue.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: I have a letter from a credit union to say it was disappointed to hear the Central Bank repeatedly advise that no business model proposals or requests for changes to regulations have been made to it. This arose from our hearings with the credit unions. The letter goes on to state that the credit union has made extensive efforts to engage the registrar on its business model development and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: I know the Governor is caught for time.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with Central Bank of Ireland (4 Apr 2017)

John McGuinness: I thank members and Professor Lane and his colleagues.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Public Sector Standards Bill 2015: Committee Stage (6 Apr 2017)

John McGuinness: I ask members to turn off their mobile phones. We are considering the Public Sector Standards Bill 2015, which was referred to the select committee by an order of the Dáil of 5 July 2016. I welcome the Minister, Deputy Donohoe, and his officials. There are 89 amendments for consideration but, by arrangement with the committee, we must finish at 1 p.m. I refer members to the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Public Sector Standards Bill 2015: Committee Stage (6 Apr 2017)

John McGuinness: Yes.