Results 4,261-4,280 of 10,435 for speaker:Jim O'Callaghan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Is it fair to say that it would be the preference of the group if the financial institutions agreed to remove or amend that clause, with the agreement of the other contractors, who would be the homeowners, in order that it would not be viewed as an act of default if there was demolition for the purpose of the scheme?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Mr. McCabe comes from a financial services background as well. One would have thought that it was clearly in the interests of the financial institutions that are providing the mortgages to ensure that the properties are remedied to the best quality available, since they are the institutions' underlying security.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: The mortgage is between the homeowner and the financial institution. Should the Government play a role in intervening in that contractual relationship or do the financial institutions just need to recognise that the provisions need to be amended?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: From what the witnesses have told us, there has not been satisfactory engagement as far as they are concerned.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Part of Ms McDade's annoyance with her financial institution is that, when she wrote to them and did not get much of a response, it subsequently replied that she may need to borrow more and that, if so, it would be happy to provide it. It was just looking at it as a commercial opportunity for itself.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Ms McDade's home has been demolished.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: When did that happen?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Ms McDade is paying the mortgage and rent.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Regarding the scheme's operation since last February, is it proceeding according to the timeline she had hoped?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: What action does Mr. McCabe want to see from them? Sometimes, it is easy for banks to say they hear people's concerns, but what does Mr. McCabe want them to do?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: That is helpful for us for when we engage with the banks.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Ms Shovlin stated that she would like to see all financial institutions treat all defective block homeowners as vulnerable customers. Does she believe that she is being treated as a vulnerable customer by EBS at present?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Ms Shovlin is not getting the benefit of the framework that was put in place three years ago.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Can Ms Shovlin engage with an EBS office in Donegal-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: -----or is it done over the phone? Is there anyone in there who is in charge of this?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Ms Shovlin does not believe that defective block homeowners are being treated as the vulnerable group they are, considering the trauma they are going through as a result of the demolition of their homes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Permanent TSB is not distinguishing Ms McDade at all. It is just regarding her as a standard customer and she is not being treated as vulnerable.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: The homeowners are benefiting the banks then.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Maybe they recognise that but are not giving recognition to the homeowners that it is in their interests as well.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Jim O'Callaghan: Yes.