Results 7,361-7,380 of 26,465 for speaker:John McGuinness

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Are there any legacy issues being dealt with in the courts arising from that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Not that Mr. Verbraeken is aware of. I might return to that. I refer to IIB and the famous circular which referred to IIB home loans and a new tracker product at a rate of 0.9% issued in 2006. It was described as fantastic news. Mr. Verbraeken is aware of that circular. Originally, there was denial that that circular existed but the bank now accepts that it exists.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: In the context of the examination of that and the rate matrix that existed from May 2008 and so on -----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Yes, I get that. Is 30 May 2008 correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: When this first arose in the examination of the tracker mortgage issue, and then this committee involved itself with every bank to try to resolve it, one name that came to prominence was Padraic Kissane. He has appeared before the committee and has given evidence.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: What was the outcome of that meeting?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Was that a detailed engagement with Mr. Kissane?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: With whom from the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: What are their responsibilities within the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: I met Padraic Kissane earlier at the coffee dock here. Ms Deering saw me. We were going through the documents and they were quite detailed. I cannot hold Ms Deering here all day and go through all the specifics in the documents. However, suffice to say, Mr. Kissane would contest some of the evidence given to the committee and how that meeting, in particular, went. Does Ms Deering see any...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: He represents customers of KBC. However, in the overall context of the handling of this issue, to be helpful, I am trying to arrange a meeting at the highest level within the bank to clarify some of the issues because I do not have the time to go through each one. That would be important for clarification between Mr. Kissane and KBC and that would serve the committee well in our learning...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Is that a narrow scheme or is there room to expand it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: I return to Ms Deering and the settlement of some of the loans, which she discussed with Senator Conway-Walsh. The Senator asked her whether KBC had ever marked down a loan as one would do when selling to a vulture fund. Has the bank considered that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: What level of cost does the courts process through which banks bring customers who, as the representatives state, have not engaged over many years entail for the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Does the bank hand over commercial or tracker issue cases to its legal representatives once the case goes to court and give them full rein to deal with the cases or does it check on their progress? Issues of which the bank was unaware may arise and, if acknowledged, may bring about a different type of solution. Does the bank have oversight of the activities of its legal representatives?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: That was my question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: I am interested in such cases. In the course of a case in which bank documents may be challenged or new information given or an error in documentation or incomplete documentation discovered, the bank remains open to talking to the customer. It does not to refuse to so do once proceedings reach court.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Although I do not wish to go into too much detail, I recently read of a court case in which a customer of the bank claimed the bank owed him or her money. If that money had been paid or acknowledged as owing to the customer, it might have resulted in a different outcome to the case. That is why I asked about commercial cases before the courts. I might come back to the representatives in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Mr. Verbraken stated that the bank uses Cabot.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Does it use Cabot for debt collection?