Results 26,941-26,960 of 35,894 for speaker:Pearse Doherty
- 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?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Ulster Bank (13 Nov 2014)
Pearse Doherty: I appreciate I am running out of time, but I have two final questions. We saw the figures on the numbers of staff who have been lost and branch closures. Can the delegation assure us that there will be no branch closures in 2015? Can it inform us of the highest loan-to-value mortgage it issues? What is the loan-to-income multiple? We know the Central Bank is proposing mortgages of 80% of...
- 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: Permanent TSB (12 Nov 2014)
Pearse Doherty: Does Mr. Masding have any timeframe in mind concerning any of this?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)
Pearse Doherty: As regards the European Commission, PTSB's first restructuring plan has just gone off the burner. It is now about to submit a second one. Mr. Masding may be able to enlighten us as to how many years the Commission has had the first restructuring plan. What convinces Mr. Masding that the second one will be approved by the Commission? How does it differ from the first one? How long does he...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)
Pearse Doherty: And the timeframe?
- 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: Permanent TSB (12 Nov 2014)
Pearse Doherty: To pick up on the rate of 1% above the existing interest rate on the tracker mortgage, if that had been applied a number of years ago, would customers be paying higher on the new facility being offered than on the variable interest rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)
Pearse Doherty: If 1% was put on top of the tracker rate a number of years ago, would that rate then be higher than the variable interest rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)
Pearse Doherty: Did PTSB at all times have a tracker rate that was less than 1% below the variable rate?