Results 13,141-13,160 of 35,658 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: Is it expected that will be reduced? There are 181 cases before the FSPO relating to customers who are not happy with the processes used, the level of compensation and the determinations made by the bank. Is the bank providing for possible legal challenges?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: I did not say that. I said there were 181 cases before the ombudsman.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: Those people are unhappy with the bank's own processes, procedures and customer relations.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: Is it being suggested that the additional €30 million is being provided to cover the fine the Central Bank is going to issue? Is it expected the fine for Permanent TSB will be that low given the torture many customers were put through? I refer to the fact that the bank took from the accounts of customers more than €100 million or had to pay back €130 million in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: Is the best estimate of the fine, which is an expected liability, and any other unresolved tracker cases, whether they are before the FSPO or relate to a number of people that the bank has not contacted, a total quantum of €30 million?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: Has the bank conducted an internal report on how so many customers had their money taken wrongly and unlawfully from their accounts? Has the report been commissioned? Has it been completed? Has it been sent to and signed off by the board? Has it been given to the Minister for Finance, as the majority shareholder in the bank, and to the Central Bank? Has the report been shared with the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: The Garda.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: The Bank of Ireland is also subject to the same enforcement investigation. The bank was able to tell the committee that it had commissioned a report and submitted it to the CBI. I am sure that information would not jeopardise the investigation that is ongoing, so has the report been submitted to the Central Bank of Ireland and, as a majority shareholder, did it go to the Minister for Finance?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: I am sure we will come back to this when the Central Bank concludes its investigations. It keeps on telling us not to be surprised if it identifies individual accountability, something we understand none of the banks has identified. To Mr. Masding's knowledge, has anybody been sacked, reprimanded or lost his or her position as a result of the tracker mortgage investigation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: We all know that the tracker mortgage scandal was an evolving thing. While damage was done and decisions were taken, Mr. Masding tells us it was a systems error, but it is very hard to believe that all the banks all had a systems error at the same time. While the current management would not have been there at the time, everyone on this committee and the public know that the figures that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: The issue that affects me is Mr. Masding's suggestion that there is a new management team, that it is now customer-centric and so on. I do not have a short memory. I recall a case which occurred only a couple of years ago, when Mr. Masding was in charge. I recall it because I know the person concerned very well as she is a relative of mine. The bank sent her a letter, because she was...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: Surely to God, in this day and age and at a time when AIB is offering fixed rates of ten years at just over 3% or so, Permanent TSB would say to these individuals that it is going to stop screwing them with a 9.1% interest rate, allow them to come off it and go onto one of the lower fixed rates, which is just 3% or 3.2%. There are five at 9.1%, but presumably there are many others who are at...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: What is the penalty for breaking that fixed rate? If somebody has a €200,000 mortgage, what would the penalty be for breaking their fixed rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: Would it still be more economically beneficial for somebody to break the rate and go onto a lower fixed rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: I would like to ask about the bank's commission scheme. Can Mr. Masding explain that to the committee?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: What do staff have to push for the commission?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: If I go into a Permanent TSB branch, should I be aware that the person sitting across the desk from me is trying to push insurance or some other product on me and that he or she will be paid more if he or she makes a sale or is he or she just giving me the best financial advice?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: The person is not getting any commission for pushing products on me.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: I did not ask that question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB (9 Apr 2019)

Pearse Doherty: Why not just pay the staff more appropriately, instead of telling them that if they push that product on customers they will get a certain amount of commission? There is obviously an incentive there for the staff to sell a product.