Results 9,281-9,300 of 26,465 for speaker:John McGuinness

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: I am not just addressing that case. There may be others for whom the bank does not have the correspondence to say that they were on a tracker. If that correspondence is missing from the file in the case that Deputy Sherlock raised, there could be other files from which that same piece of correspondence is missing and other people whose claim to a tracker is recorded in correspondence which...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: Okay. In the case raised by Deputy Sherlock, was the situation reversed instantly?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: Deputy Sherlock is right about it anyway, I understand. In terms of dealing with correspondence from customers, how quickly does the bank respond to customers who write in and make a complaint because they feel they should be on a tracker? How long does that take typically?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: Is there any particular company or individual that represents a number of cases to PTSB?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: What is your engagement with he likes of Mr. Kissane, who gave us an insight on behalf of customers into how the tracker issue has been dealt with by various banks? Have you reached out to them to understand the customer issues and the effect that the tracker issue has had on them and their families?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: It took the bank nine months to reply to one particular case, although it may be a once-off. The customers have written to the committee. They wrote to PTSB in July 2016 and did not get any substantial reply until April 2017. That was only after they had contacted the Central Bank and the ombudsman. It is a pity that a customer who has been affected negatively by the action of a bank...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: This is a different case.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: Going back to the Central Bank update on the tracker issue, a number of examples are outlined in pages 18 and 19. In example 2 in that report there is reference to transparency issues resulting in loss of tracker product. They set out what they believe are the ground rules for that cohort of customers. Is Mr. Mitchell satisfied that PTSB, in line with these examples, has dealt with its...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: What sort of guarantee would Mr. Mitchell give to people who are at odds with the bank in terms of dealing with and examining their cases and so on?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: How was that handled in terms of PTSB's desire to understand the customer's case and the assistance it can give to the customer? Is the bank proactively engaged with customers who are at odds with it about the position of their trackers? Does the bank give them the benefit of the doubt? Is there flexibility within its dealings with them, relative to their circumstances or their case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: How does it work? Is it all internal in the bank, this appeals system?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: I am just asking. I do not know the answer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: If the Central Bank or PTSB's internal correspondence with a customer should indicate that they were on a tracker mortgage at some stage, I presume they automatically go back on a tracker mortgage. They are entitled to it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: I am asking again about the correspondence we discussed earlier. If that correspondence existed showing that a customer should be back on a tracker and he or she was not back on a tracker, would PTSB take immediate steps to examine the matter, and if it were found to be the case, would the person go straight back on a tracker?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: How much resistance does PTSB put up to these customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: It would depend on the strength of that correspondence and the rights in the tracker.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: How quickly can the people who are at odds with the bank about these trackers get a meeting with the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: I will give Mr. Mitchell a file on one of those customers after this meeting.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: I understand that the bank would deal with these issues in a very professional way and that is what I would expect. There is no drum to beat about it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank (28 Sep 2017)

John McGuinness: Mr. Masding will get it and probably has it already. He keeps referring to one case but it is not just about this one case. I am giving him an example of some of the correspondence I have received. I understand the task of the bank in examining each and every case, which may all be different, but I want to ensure that people who go to the bank with a grievance about their tracker get a...