Results 10,301-10,320 of 26,465 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: That is the point I am trying to make here. Has Mr. Broderick ever spoken to management about the feelings of staff who almost dislike going to work because they are being pushed in that direction?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Bearing in mind the attitude of the management of banks in this country, how successful does Mr. Broderick think he and his colleagues will be in convincing the banks to establish a forum?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: No, we have to ask. I will put the question in a different way. How have these hard-nosed bankers reacted so far when it has been proposed to them that they should participate in this forum and when they have been asked to be more reasonable by having representatives of customers and employees on board? Have Mr. Broderick and his colleagues had a conversation with them about this?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Is there a date for this marriage?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Is that not the problem?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Mr. Broderick and his colleagues are at the altar on their own at the moment.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: We will act as the best man.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: What about the banks? How long will it take them to reach a position where they accept there is a need to transform the banking model we have?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: The idea that all of the players would be given a place within a forum is certainly a good one because it could shape the banking of the future. Will that not be challenged by the fact that many of these decisions are based on what the banks have described here previously as customer needs? The banks have told us that customers are voting with their feet by doing things on the Internet and...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: I would like to ask Mr. Broderick about how the tracker mortgage issue emerged. Senator Rose Conway-Walsh touched on the behaviour of the banks in that context. If something odd is going on, how obvious is that to officials in the bank who are at a lower level than management?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: The issue, as we discussed it with the bankers and as we are discussing it with today's witnesses, is that it looked like a cartel-type activity. It is strange that it happened in all the banks all at the one time. Does Mr. Broderick have a view on this?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: We have asked for quarterly meetings with the Central Bank to do just that and flesh out the matter here publicly so that we all know what is happening. I have two final questions, one of which concerns tracker mortgages and complaints. If a customer makes a complaint to a bank at branch level, how is it passed on?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: It therefore goes up along the line-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: -----but this depends on whoever deals with it at management level. That would determine the response or lack thereof.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: The vulture funds concern all of us - at least, those of us in this committee. Regarding those who have their loans or debts transferred from a bank without notice to one of these vulture funds, is there room for a benevolent fund or friendly vulture fund that would begin to relieve the banks of their debts and give the opportunity to customers to work out their debts on the basis of this...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Yes, at half past five.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: I thank the Senator. We will conclude this part of the meeting because we have another session. I thank Mr. Broderick and his two colleagues for coming before us today. I found the presentation and the replies to the questions very constructive and helpful. I encourage Mr. Broderick to proceed with his suggestion on the forum. I believe banking is changing considerably and all the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: We will suspend for five minutes while we wait for the witnesses to come forward.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: We are now in public session. I welcome Mr. Padraic Kissane to the meeting. I ask members and all those present in the Gallery to please turn off their mobile phones as they interfere with the sound quality and transmission of the meeting. I draw the attention of the witness to the fact that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Discussion (Resumed) (21 Feb 2017)
John McGuinness: Thank you, Senator. I wish to take up the point that Senator Conway-Walsh has been making. Let us suppose a customer of a bank fights this issue on his own and is not satisfied with the outcome. Is his only recourse to the Central Bank? Is that where he would go to make a complaint?