Results 7,661-7,680 of 26,465 for speaker:John McGuinness

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee (14 Jun 2018)

John McGuinness: We will begin our meeting in public session. I propose we go into private session.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: I welcome Mr. Masding and officials from Permanent TSB to the meeting. I advise the witnesses that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the committee. However, if they are directed by the committee to cease giving evidence on a particular matter and they continue to so do, they are entitled...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: I want Mr. Masding to deal with some general queries as to the bank's response to cases. I wish to refer to Permanent TSB customers who have raised questions about their tracker mortgages back in the early 2000s when the issue started. The bank at that time, because it was early days, did not have processes in place. Therefore, when customers asked for correspondence, records of telephone...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: Will the bank engage with a customer who has been through its process and who had gone to the FSPO back as far as 2013? On the basis of the information I have seen, there are no records of telephone calls or records of letters being sent. There are comments such the bank being unable to trace calls based on details given and comments to the effect that, as the letters were automated, copies...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: I am talking about PTSB. I am referring to the new circumstances, how the bank now deals with all the tracker issues and the forensic way it examines them now, which may not have been the case in 2006 or before. Forgetting about the FSPO, if someone still felt he or she had been treated incorrectly by the bank, would the bank re-examine the case in light of what has happened over the past...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: The issue is that they were-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: I thank Mr. Masding. At the AGM claims were made that customers were overcharged on variable rate mortgages, yet the mortgages were possibly going to be sold. There was a question mark over the interest rate. It is stated that substantive evidence now available shows that most banking institutions have overcharged on all mortgage accounts over the years, on variable and fixed rates. PTSB...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: Have the Deputies who met the group been told this?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: The answer to the first question was a "Yes". I will pass the delegation the information in this regard before it leaves today. With regard to the second question, I will give the witnesses the email. Maybe we can get a response to it. Does the bank work actively on insolvency proposals given to it regarding customers who come forward?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: When was the rate of 68%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: How is it running this year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: Will the rate be the same or higher this year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: The evidence is that PTSB has a good success rate with these insolvency cases.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: How does the bank classify a loan that is interest only and fully repayable in 2021, say, and not in arrears? Are those loans considered for sale to funds? Are they considered to be performing loans?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: The bank does not allow for credit union deductions when calculating the income and outgoings of a household relative to what it might owe. If the customer is also paying a credit union loan, does the bank allow for it? I have a letter referring to this; it is not a trick question and I just want to understand this. It states: "Please note that we do not allow for credit union deductions."

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: They were working through proposals relating to their arrears. They were probably giving a statement of financial affairs and they were not allowed to state their credit union repayments.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: Okay, I will give Mr. O'Sullivan a copy of the letter. I want clarification because people come to us to ask about it. Where a case is sold and there is residual debt, is it always the case that Permanent TSB pursues that residual debt? Is it the case that even though the house has been repossessed that Permanent TSB will go after that debt?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: Are all those cases dealt with by Permanent TSB's central arrears unit or is it also done elsewhere?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: We discussed cases in March relating to the tracker issue. Are the witnesses saying that those kinds of cases have come through the system and Permanent TSB is at 100% or close to it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Permanent TSB (14 Jun 2018)

John McGuinness: Where a customer has a grievance over a settlement, in cases where they have lost their house some years ago and Permanent TSB has settled with them recently, is there any recourse for them? These customers have listened to this committee's engagements with all the banks and with the Central Bank. As far as the customers are concerned, it now seems that they have settled for far less than...