Results 12,361-12,380 of 26,032 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: How could the Central Bank assess the conduct of the banks if it did not at the same time have the other side of the equation? That is the primary research.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: However, this was a stand-alone project.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: How can anyone do that without talking to customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: With due respect to Mr. Sibley, in my experience dealing with banks, the front-end staff are getting the direction from the board and top management to sell products and meet targets. To say there is a disconnect and effectively that the boards are above in some ivory tower-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: The point I am trying to make is that I find it difficult to comprehend that anyone can come out with a report on the cultural treatment by banks of customers and, with all these desktop reviews, surveys and interviews, not have one interview with a bank customer. Any report surely has to have primary research. There is plenty of it in terms of the banks themselves but not in terms of how...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: It is the customer. The bank customer is the person I am interested in.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: I fully understand that. I am a practical person. If I wanted to know what was going on in a company, and I previously operated as an auditor, I went to the relevant person and asked him or her what was happening. I did not go to top management for everything. I would ask the customers. Ms Rowland stated that she is aware of customers. For the completeness of the report, where were a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: Many customers who ended up with the vulture funds believe that the banks stonewalled them when they were seeking to deal with restructuring their loans because the banks had the backstop of knowing the loans could go to a fund.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: Customers who are constituents are telling me this.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: Can Professor Lane deal with the final point, that they stood idly by and were not proactive? It suited the banks to allow the tracker overcharging to continue because it allowed them to boost their balance sheets at a time when they were extremely vulnerable. As far as they were concerned, they could ride on and explain later.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: What is the current position with the enforcement procedure against the banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: When does Professor Lane think he will be imposing sanctions on the banks?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: When does he expect to conclude it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: Will it be by the end of the year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: Will it be by the end of the year or in the next six months?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: It will be 2019.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: In general terms, when will they be concluded?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: Okay.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: I wish to make a final point. The problem is that customers got ripped off in the context of tracker mortgages. They are watching this and saying that the banks, as far as they are concerned, have not changed and sanctions have yet to be imposed. There is a need for closure on this matter. For the people we deal with, those on tracker mortgages and small and medium-sized enterprises going...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland (4 Oct 2018)

Kieran O'Donnell: How does Mr. Sibley make that judgment when the Central Bank has not interviewed customers as part of the study? How can he make such a categorical statement?