Results 11,621-11,640 of 27,945 for speaker:Michael McGrath
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: I have a query on compensation generally in respect of question 23. The reply from the bank states that compensation is set at the higher of 10% of the redress amount or €1,000. In cases where the home was not lost or where the customer was not subject to legal proceedings by Permanent TSB, the cap was 10%. Is that the case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: The document I have before me states that compensation is set at the higher of 10% of the redress amount or €1,000. In most cases, presumably, the calculation of 10% of the redress is going to be higher than €1,000. It is 10%. I do not see the word "minimum".
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: They got €1,000.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: What of those who were significantly impacted to the tune of tens of thousands of euro? In those cases, the compensation was a flat 10%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: Did the appeals panel change that in individual cases? That was a blunt approach to take in that it did not recognise individual circumstances. How did it end up when it worked its way through the customer appeals panel? What was the highest percentage that the appeals panel approved?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: Is that across both panels?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: Does Mr. Mitchell have the corresponding figure for the customer appeals panel only?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: I imagine the independent one where people lost their homes would have brought that figure up significantly.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: It would be helpful to get that. The point I am making is that customers who did not lose their homes and were not in legal proceedings were offered 10% with the option of appealing that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: What was the percentage of compensation approved by the appeals panel?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: Is the total amount paid out to date €57 million?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: How many of the 1,979 customer accounts have been paid out?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: Do the balance of them remain under appeal?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: In how many cases did the bank settle with the customer outside the normal redress programme and outside the appeals panel?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: I certainly remember one case covered in the media recently where the solicitor for the plaintiff said that the client in that case got significantly more than the bank was offering.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: How many court challenges have been taken against the bank? In respect of how many cases has it been served with papers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: Mr. Masding spoke about the prevailing rate in his opening statement. Has the Central Bank signed off on Permanent TSB's approach to the prevailing rate issue, both in regard to the margin and the rate itself in cases where the prevailing rate and-or the margin were not specified in the original mortgage documentation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: How did Permanent TSB calculate the prevailing rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: There was a clear impression given that all of those who had lost their homes had gone through the independent review panel. It was just the next step.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)
Michael McGrath: To be fair and to give the witness a chance to respond, is it not the case that, to get a mortgage, one must have mortgage protection insurance or life cover up to the value of the mortgage?