Results 1,241-1,260 of 23,109 for speaker:Paddy Burke
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: European Union Matters: Commissioner Valdis Dombrovskis (1 Feb 2018)
Paddy Burke: We see that Brussels is probably the second largest lobbying city in the world. Mr. Dombrovskis is saying pressure is being put on banks to sell off non-performing loans. When pressure is put on the banks to sell off those loans, he will note most groups that buy them are vulture funds. This committee has tried to get vulture funds to come here to talk to us but they will not do so. Has...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: European Union Matters: Commissioner Valdis Dombrovskis (1 Feb 2018)
Paddy Burke: Write-offs.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: I welcome Mr. Stanley and Ms Arnett. The bank's complaint handling centre received a letter from a customer in January 2016, over two years ago. The letter thanks the customer for their letter of 23 January and tells them that the bank is currently working through the Central Bank requirements and will continue in due course if this customer's case falls within the scope of those...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: Yes, it relates to tracker mortgages. Mr. Stanley has said the bank is still in contact with the Central Bank. Is the Central Bank changing its requirements which are needed to arrive at the final scope on a weekly basis?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: I take on board what Mr. Stanley says but the Central Bank has been dealing with Ulster Bank on this matter for almost three years. Is the problem that the Central Bank is moving the goal posts?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: How is it that we cannot get to a situation where there is a final agreement and the bank can write to everybody? The bank cannot write to everybody until it has the final requirements from the Central Bank. It has taken almost three years to get those. Why is that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: So the customer to whom I referred will not get any satisfactory answer until the bank reaches all these stages.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: The bank has two appeals committees, is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: Is it correct that the complaints are mainly handled in Belfast? The customer in the case I mentioned said that they have to contact Belfast, and it is not satisfactory. They might ring there and get an answering machine and no reply. There is no unit in Dublin for people who have been impacted in this part of the country. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: Are they? All of them?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: But the vast majority of complaints must deal with the bank in Belfast?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: It is very frustrating for those people to have to go to a help desk in Belfast equipped with answering machines. Can Mr. Stanley bring a message to the bank that if the customers contact it, the bank should contact the customer back in a timely manner.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: What will happen to the 200 staff in the bank when all this is over? Will they be laid off or redeployed?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: What will be different in how the bank operates in the future? How can we guarantee that the same thing does not happen again?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: The level of compensation is between 12% and 20%. Who has final agreement on its make-up? Does the Central Bank, with Ulster Bank, set targets for different clients? How does that operate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: What about non-performing loans? Some tracker loans could be non-performing. How are they dealt with if there is no hope for some of them? A vice president of the European Commission, Commissioner Valdis Dombrovskis, gave evidence to the committee this morning that it is advocating write-downs to the banks.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: There are non-performing tracker loans. The Commissioner advocated write-downs.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: Mr. Stanley is saying it will not come into the equation in regard to trackers. There will be no write-downs in that regard.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: The loans could be still non-performing.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Ulster Bank (1 Feb 2018)
Paddy Burke: But Mr. Stanley is saying that, allowing for what the Commissioner said here this morning, there may be no individual write-down.