Results 21,201-21,220 of 36,897 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: Mr. Mallon spoke about last year's request of the Central Bank that the bank carry out a review of how many people were taken off tracker mortgages by the bank, or denied the right to go back onto a tracker mortgage as they would have been entitled to do under their contract. How many such people have been identified within Ulster Bank so far?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: I appreciate all of that. I will repeat the question and I would appreciate it if Mr. Mallon would answer it. I did not ask him for the final number. Obviously, he does not know it because it has not been completed. That is why I did not ask him for it. I asked him for the numbers identified within his bank to date who have been prevented from going back on a tracker mortgage or who have...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: How many of those 2,000 customers have lost their homes?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: Mr. Mallon does not know how many people lost their homes as a result of Ulster Bank taking their tracker mortgages away from them? He is the CEO of the institution. I appreciate that he has only been in the job for the past year but is he telling me that the bank does not know this?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: I appreciate that. At least we are getting somewhere with figures. The 2,000 customers were subject to what I would describe as industry theft because that is what it is to me and to the ordinary person on the street. Mr. Mallon's bank wrongly took their money from them and will now be forced to give it back to them in a so-called redress scheme. It is industry language for what is going...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: So am I right in saying that the bank has written to none of them? Mr. Mallon told me earlier that the bank had apologised to each of those people individually but it has not actually told any of them that it erred.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: The 2,000 people identified by the bank were not identified yesterday. This has been going on since December 2015 at the latest. Ulster Bank has been identifying where it wrongly took tracker mortgages off individuals since that time and is still making them pay a standard variable rate. While the bank is getting all its ducks in a row so it can make a big announcement and send out a big...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: Will all of these customers receive a letter and be put back on to their tracker mortgages before Christmas?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: I want to move on to another issue, which is the global restructuring group within the bank. I know it happened before Mr. Mallon's time but 2,141 Irish businesses located in this State were transferred into the global restructuring group. Is that the correct figure?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: How many of those 2,141 Irish businesses located in this State came out of the global restructuring group?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: I appreciate the background. Obviously, the Chairman has allowed Mr. Blair time to put all that on record. Let me return to my original question again. There were 2,141 businesses involved. They had debts in excess of €1 million up to €25 million. We are talking about the local publican or corner shop owner in Mayo or Donegal, for example. We are talking about some...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: Is it seven?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: Is it less than 100?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: Businesses believed they would be supported but, as was put to me, they were not aware that they were being put on death row. Is it credible that fewer than 100 out of 2,141 businesses that went into a global restructuring group came out alive? Is there truth in the allegation made, which is that the group was a vehicle that allowed Ulster Bank to appoint receivers and liquidators for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: The Mason Hayes & Curran reviewers interviewed five individuals. The review did not identify the issue whereby the bank is now allowing some of the businesses to seek compensation from the fund that has been established by the bank's parent group. Is that not correct? Is it correct that the review did not identify this issue in respect of the fees and that only five individuals...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: What would Mr. Blair say about the comments of the senior executive in Ulster Bank, a whistleblower reported in the Irish Independentin 2013, three years ago to the very day, to the effect that GRG Ireland was about putting businesses to the wall?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: Does Mr. Blair accept that while he claims the intention of Ulster Bank in putting businesses into the global restructuring group was to support them, it dramatically failed given that, out of the 2,141 businesses that entered the group, fewer than 100 actually survived?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: I agree on that point. Would Ulster Bank welcome a review by the Central Bank of Ireland into Global Restructuring Group Ireland to determine whether Ulster Bank treated SMEs unfairly by comparison with other Irish banks? Would it welcome a review to clear up this issue once and for all?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Ulster Bank (1 Dec 2016)

Pearse Doherty: If the Central Bank had not asked Ulster Bank to review tracker mortgages last year, our guests would be in here today telling us no issue arises in terms of tracker mortgages. The Central Bank has forced it to acknowledge this because of an independent review. It is looking over its shoulder in respect of having treated two thousand of its customers wrongly in that regard. I hope I will...

Written Answers — Department of Finance: Mortgage Applications Approvals (1 Dec 2016)

Pearse Doherty: 139. To ask the Minister for Finance if his attention has been drawn to difficulties potential new businesses are having in accessing new mortgages and loans on mixed use properties from the banking sector despite apparent credit worthiness; the approach of the State owned banks to such applications; the details of any specific products they have for such potential start-ups; and if he will...