Results 13,101-13,120 of 35,658 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: This goes back to the contract material and I will return to that, but what about the issue that where the contract is vague it must always be interpreted on behalf of the customer? The vagueness in the contract cannot be interpreted on the bank's behalf. We have discussed this previously as other members have raised the issue. The prevailing rate is not defined. A tracker rate is defined...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: However, there was no tracker rate at the time so the bank has engineered a tracker rate, and it did that retrospectively.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: Will the witness explain how this was not a contractual breach? I have no legal background but somebody entered into a contract with AIB and that contract states clearly that after a period of time the person can go onto a tracker rate at the then prevailing rate. AIB did not allow the person to go onto the tracker rate, therefore that term in the contract was breached.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: If it is a contractual breach, and the bank dismissed that it was a contractual breach, why does it not------

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: Is it not a breach of contract?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: It should not have to go to the courts. Does the witness not understand that these 6,000 people have a contract which states that they are entitled to a tracker rate? Forget about the issue of the rate that was going to be applied at that time. Their entitlement to a tracker rate was unilaterally withdrawn by AIB. It is a breach of contract. In simple terms, let us say I sold the witness...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: Will the bank inform the Central Bank of the rationale, the specifics of the case and the reasons it was settled? I am aware of other institutions - not AIB - which were taken to court by individuals, where the case was settled on the steps of the court with a confidentiality, or gagging, clause. There are thousands of customers in exactly the same position who do not get the benefit...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: Do those reports include details of legal settlements and the rationale for them?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: How many restructured mortgages that meet the terms of their restructured arrangements are classified as NPLs within the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: Is it only that they have to wait until they have fulfilled the terms of the restructured arrangement for 12 months? In the case of another financial institution involved in restructuring which appeared before the committee, individuals are meeting the terms of the restructuring but, on the basis of the type of restructuring involved, such as a split mortgage where more than 20% of it is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: Does the bank have any data on customers who fully engage with it, who make the maximum payments to it, based on their standard financial statements, but whose only solution, determined by the bank, is voluntary surrender or repossession, where the bank has determined that the individuals will ultimately lose their homes?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: How many individuals have submitted standard financial statements which the bank, on examination, has determined to be unviable and decided that surrender of the property is the ultimate outcome? I acknowledge that the bank is engaging with iCare, which we welcome. It is very positive that there are more mortgage-to-rent properties and there are a number of positives that I could raise but...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: The book value for Project Beech, the latest sale, is €1 billion. What was the sale price?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: Were 220 family homes involved in that sale?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: Given that a new threshold has been crossed, in respect of the sale of family homes to vultures - I understand the loans are cross-securitised - is it the intention to go down this road with other potential sales of family homes to vulture funds in the future?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: It was a new departure for AIB, therefore, where it sold family homes that are not securitised in other business assets. Is the bank indicating that the only sale that will take place is where there is complete non-engagement and non-payment? That is the impression Mr. O'Keeffe gave with his previous contribution.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: My colleague, Senator Conway-Walsh, spoke about the fees and the deferred charge of 20 cent per contactless payment. AIB sought permission from the Central Bank to apply that charge and one can understand why it would request permission to apply a 20 cent charge per contactless payment. While I accept the charge is currently being waived, the bank has permission and can apply it at any...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (11 Apr 2019)

Pearse Doherty: The 20 cent charge for chip and PIN transactions is scandalous. It is ridiculous. Many places still do not have a facility for contactless transactions. I would say most consumers do not know that when they buy a loaf of bread and put in a chip and PIN for the transaction they pay a 20 cent charge to AIB. That is a hefty charge. I had an issue with another bank that was charging half...

Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation (10 Apr 2019)

Pearse Doherty: I also wish to raise this issue and we have raised it on numerous occasions. Our colleagues have attended public meetings there. Deputy Caoimhghín Ó Caoláin raised this issue directly with Tánaiste as far back as the beginning of July last year. Commitments were given by the current Taoiseach and by the former Minister of State, Deputy Kathleen Lynch. The commitment...

Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation (10 Apr 2019)

Pearse Doherty: What about the commitment given?