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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)

John McGuinness: Is it the case that as customers respond to AIB, their cases are passed on to iCare?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)

John McGuinness: The Senator's time is up.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)

John McGuinness: That concludes our meeting. I thank Mr. Byrne and his colleagues for attending.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: I welcome the Governor of the Central Bank and his colleagues to this meeting. 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 joint committee. However, if they are directed by it to cease giving evidence on a particular matter and continue to so do, they are entitled thereafter only to qualified...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: I thank Professor Lane. I draw his attention to the fact that the opening statement was received last night at 9.15 p.m. Therefore, it was not circulated to members until this morning. In the future will he ensure documents are delivered earlier?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: Senator, your time is up.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: Senator Conway-Walsh is next.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: I want to intervene here because I do not want to lose the point made by Senator Burke. The Governor said that the Central Bank had been active on this since autumn 2008. The reason I want to pick up on this is because the committee sent the Central Bank the correspondence from Deputy Jim Daly. If the Governor read that correspondence, and I take it that he has, it is clear that the Deputy...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: How many of these agents does the Central Bank regulate? How many are there?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: There are eight authorised. Can a list of those be supplied to the committee?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: What does Professor Lane think of the fact that these firms have decided not to come before an Oireachtas committee despite of the fact that his organisation regulates them?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: We do not have any.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: Will Professor Lane tell them that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: Will Professor Lane relate to them that we are on to them and want them here before us?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: Will Ms Rowland go through those headings again? If a customer loses a house valued at €200,000, what is the Central Bank expecting to happen?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: With the house worth €200,000, what can the customer expect?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: Before the witnesses finish that matter, is it not the case that there are other things? There are vouched expenses.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: We are going to have another round of questions but we are obliged to take a break at this stage. I suggest we take a break until 2.15 p.m. Did Senator Conway-Walsh want to ask about something specific?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: We will resume with Deputy Michael McGrath.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Central Bank of Ireland (18 Jan 2018)

John McGuinness: I will follow up on the very same point on the action of the Central Bank in regard to Tanager and Start Mortgages. The cases that have ended up in court would have caused a considerable amount of difficulty, trauma and unnecessary actions for the borrower, and left many people quite distressed. In the context of this, how will they be compensated for what has happened to them?

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