Results 28,181-28,200 of 35,924 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: The letter was cc'd to Brian Lenihan. It is highly suspicious. That was the only item of correspondence between the bank and the Department of Finance during this period. There are major questions about the tax adviser, who I do not claim did anything wrong. He was a tax adviser to the former Taoiseach, Bertie Ahern, in respect of the whiparound in Manchester. This is a sensitive letter...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: So, the answer is "Yes". Can Mr. Boucher also confirm that the 15 directors of his banks have seen a collective increase in their remuneration since last year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: No, but the amount of money the bank pays its staff has reduced by €80 million, is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: That is because the bank let 2,000 people go.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Nevertheless, the directors have seen an increase of €207,000 combined in the past year. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Yes, but the combined amount being paid to the directors has increased. Mr. Boucher has received an increase in his salary in the past two years. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: I have the figures. In 2011, Mr. Boucher took home €831,000. This year, he takes home €843,000.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: How would Mr. Boucher see it if the Irish State voted against his salary given that the only reason he is sitting in front of us as CEO is because the people rescued his bank during a crisis at which time he was at a very senior level?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Would Mr. Boucher have a problem with the State voting against his remuneration package in two weeks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: In my view, the bank has abused this situation. The Minister for Finance is on the record of the Dáil as saying this week that he does not view the threats of legal repossession as the banks meeting their targets. He told me two months ago that he was going to communicate that to Bank of Ireland. I know he is playing politics in this and he hides behind the Central Bank, but has he...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Yes. Has the Minister corresponded with Bank of Ireland about this issue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Is the CEO aware of that correspondence?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: The Minister informed us in the Dáil about two months ago that he was going to make that known to the banks. Mr. Boucher is not aware of it, either formally or informally?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Between the bank's voluntary surrender and repossession efforts it is 6,650. I have a piece of legislation that will be debated in the Dáil on Friday which I hope will frustrate the bank's efforts to put people out of their homes. We will wait and see how that transpires on Friday evening. As regards the 6,650 cases in the legal process or voluntary surrender, how many does the bank...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: None at all?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Mr. Mason has no estimate whatsoever?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Would the bank expect to repossess at least 10% of those? Would it be normal to expect that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: Okay. As regards voluntary surrender, 545 people in family homes have given up their houses as a result of the bank requesting them to do so. As I said yesterday, many of them do so through fear that the bank will bring them before a judge and jury to have their houses repossessed. Mr. Mason has told us that he is not writing off any of the residual debt. What steps, if any, has the bank...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: I would say many of those would not believe that the bank is very sympathetic at that level. Many people who have spoken to me do not believe there is much sympathy within the institution. We see that right from CEO level down to senior management. Would Mr. Mason have heard comments from customers that there is an absence or lack of sympathy in the institution?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland (10 Apr 2014)

Pearse Doherty: As regards residual debt, a thread running through the committee hearings is that the mortgage to rent scheme is simply not working. If a customer were deemed by the bank to be suitable for mortgage to rent, they would therefore surrender their home which would be sold to the housing agency. If there was €100,000 of residual debt, the customer remains in their home but would pay a...