Results 9,381-9,400 of 26,465 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: I can come back to the Senator. I have some questions and Senator Horkan wants to comment. On the comment made by Deputy Paul Murphy about the ad that was withdrawn, I must be the odd one out because I did not see much wrong with the ad. That is informed by the fact that my son and his partner came home to live because he felt it was cheaper and prudent to do so. He told me he would be...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: The loan scheme is fine but I would like to see banks deal with the other issue, which is people who want to get into the mortgage market and cannot do so. Young couples are watching property going up in value and watching the difficulties for them increase. The bank must meet them in some way in terms of how to get them onto the property ladder. That is the issue. People are trying to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: I understand that, but that is the excuse used by everyone. The fact is that houses do come on the market and some of them are the right price. There are difficulties for people who qualify for social housing and also for those who fall into the category where they have too much income to go onto social housing lists but too little to qualify for a bank loan. That is how they are being...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Turning to customers who have found themselves in difficulty in terms of lending from the bank, according to the table supplied, the bank has sent 47 letters advising of legal action. Is that right? I refer to the answer to question No. 8, which refers to the solutions used. Is Mr. Mason saying that there are only 47?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Forty seven only?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Is that what that describes?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: The volume of the correspondence members, I as Chairman and the clerk to the committee receive generally peaks following a meeting such as this. I was trying to find a way of dealing with the queries that arise. It is with great disappointment that I have to report that there has not been a single response from Bank of Ireland. On 19 June 2017, I sent a batch of those letters to the bank;...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: I am not asking for particulars relating to individuals but these people were good enough to bring their cases to the attention of the committee and out of respect for them and the committee, I expect an acknowledgment of those.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: This brings me to the various figures relating to tracker mortgages. I just want to understand them. Is it correct that the bank has identified a further 602 accounts that were wrongfully denied a tracker rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Where were they identified?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Is that phase 2?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Is that phase completed?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Let us stick with the 602 customers. They are included in a report to the Central Bank on completion of phase 2. Is phase 2, therefore, complete with the exception of the Central Bank coming back to the bank on the numbers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Mr. McLoughlin mentioned that in 2010, some 5,100 customers were put back on tracker rates automatically. They were identified and then-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Then there is a figure of 3,900. Are these all separate figures?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: So the 3,900 customers were affected because the right rate was not applied to their mortgages. Are those fixed?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: Mr. McLoughlin outlined a sum of €25 million as the cost to the bank and he said that includes compensation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: There was no need for compensation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)
John McGuinness: If the bank has established that the cost will be €25 million, which includes compensation, how much of this amount comprises compensation? How much has been paid?