Results 29,941-29,960 of 36,033 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Pearse Doherty: However, is there a potential clawback, whereby I would be offered a reduced interest rate for the period but were my circumstances to change, this could increase? Alternatively, is the bank offering a contract that is for a duration of five years after which it will be reviewed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Pearse Doherty: I will move on. There is much other detail that is missing and hopefully it will be furnished to the committee. We probably will have a further round of these meetings later in the year. Has Ulster Bank shed jobs recently, particularly in the arrears support unit?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Pearse Doherty: Given the problem Ulster Bank has, why is it not renewing fixed-term contracts in the arrears support unit? Mr. Brown has explained that 35% of the bank's base, which equates to approximately 6,000 people, is not even engaging with the bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Pearse Doherty: It is ironic that I have received correspondence from an individual who has been sacked or whose contract has not been renewed by Ulster Bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Pearse Doherty: I will not name anyone and he has given me permission to deal with this case.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Pearse Doherty: No. My point is it is ironic that he worked in the mortgage arrears section. His contract is not being renewed and now he cannot pay his mortgage, which is with Ulster Bank. Mr. Brown mentioned earlier that a holistic approach must be taken in this regard. The bank itself must consider some of these cases. I refer to Priory Hall and a question members have asked of the other banks....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Pearse Doherty: As for my final question on the bank's commitment, the witnesses have addressed it earlier. However, members are all concerned - and as a member of Sinn Féin I am particularly concerned - regarding the bank's commitment to its presence both here in the South and in the North. I acknowledge this is outside the witnesses' control. How many lifestyle reports has the bank conducted in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Pearse Doherty: Yes, with regard to people who are in mortgage arrears. Other banks are using them and Bank of Ireland has just confirmed it is using them. Basically, it employs special investigators to follow people to ascertain what type of lifestyle they are living.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Pearse Doherty: Is interest still being accrued on the mortgage? That is one of the issues. If I may ask Mr. Brown a leading question, I note that AIB appeared before the joint committee yesterday. Its representatives acknowledged that while a process was under way with the banks, it was not going to work and they stated AIB's intention was to deal with the individuals with which it was concerned and was...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Pearse Doherty: Will Ulster Bank freeze their interest rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Ulster Bank (4 Sep 2013)

Pearse Doherty: I welcome the witnesses to the committee. I have been going through the figures. We have had two sessions with representatives of AIB and Bank of Ireland. I will not rehearse all of that but I ask the witnesses to read the transcripts. Everything I said to them about providing the information this committee required is applicable to the witnesses also. It is disrespectful not to give us...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Pearse Doherty: On how many customers has the bank or its legal advisers commissioned lifestyle reports by private investigators? What is the cost of these lifestyle reports on the customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Pearse Doherty: Is it only on high profile cases? There is concern because it has been reported that in some non-high profile cases, banks have these people snooping around the garden to see what type of car people are driving, looking in windows and so forth

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Pearse Doherty: Can the witness provide the figures to us at a later stage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Pearse Doherty: Mr. Mason will accept that the solutions the bank has put in place in the past, including the short-term solutions such as interest only, have failed. Even today across the financial institutions, one in four restructurings are failing. In the past almost half of all restructurings were failing. The point is that the Central Bank no longer wants short-term restructurings; it wants...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Pearse Doherty: Mr. Boucher is comfortable.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Pearse Doherty: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Pearse Doherty: I understand that. The figures the committee would like are the figures Mr. Mason presented to the Central Bank at the end of quarter two. Regarding some other issues, I want to add, in terms of the split mortgage, that the products the bank has on split mortgages are wrong. We had AIB representatives before the committee yesterday. They are modifying their split mortgage in terms of a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Pearse Doherty: This made the headlines yesterday - CEO of AIB said 20% were strategic defaulters under his definition. I do not want to use the term "strategic defaulters" but what he basically said is that when the financial statements are analysed, they believe that 20% can pay their mortgages. Bank of Ireland's figure for that, after analysing the statement, is 10%. Would that be correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with Bank of Ireland (4 Sep 2013)

Pearse Doherty: I would say most would be made up of-----