Results 13,341-13,360 of 26,208 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Mr. Masding has indicated he was not at the bank when the trackers came in and he joined the bank, if I am correct, in January 2012.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: There was a High Court case. We had a group of people in here with Mr. Padraic Kissane late last year and two of them were customers of Permanent TSB. They are Mr. Thomas Ryan and Ms Hazel Melbourn. They presented very well and their presentation shook the foundations on this matter. It brought utter clarity for me. With Thomas and Claire Ryan, the High Court in September 2011 upheld a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: The witness mentioned systems.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Why was it subsequently decided to withdraw the Supreme Court case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Mr. Masding is talking about customer welfare. The bottom line is he stood over a Supreme Court appeal for three years before withdrawing it in February 2015. We only represent the public. A lady rang me before Christmas after an agent of Permanent TSB called with a legal letter to her home. She was petrified. It was around 6 p.m. All I could do was take her call and put her in contact...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: The peak was 58% of the loan book being trackers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: What did it peak at?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Of the entire loan book.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Is that in value terms?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: That is astounding.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: The bank took a test case and spent five years from 2010 to 2015 fighting four people on two mortgages. Mr. Masding is explaining what happened but the question is whether he can stand over the approach when effectively the bank was forced to withdraw a Supreme Court challenge as a result of the work done by the Central Bank of Ireland?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Chairman, may I make a final point? Ms Marian Kenny, 2 Gosworth Park, Castle Park Road, Dalkey, a customer of Permanent TSB has written to the committee, allowing us to use her details. Mr. Padraic Kissane would have written to Mr. Masding on 31 October 2017. Mr. John Mason would have replied to Mr. Kissane on 8 November 2017. Ms Kenny had an interest only mortgage of €550,000, and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: I thank the Chairman. Will Mr Masding explain how a person with an income of €80,000 was able to get a mortgage of €630,000? How were the terms of the original mortgage for €550,000 rewritten when the top-up was granted?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Mr. Masding will appreciate that when the customers come to us they are experiencing extreme frustration. We are only a conduit.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: I thank the Chairman.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: I would say that Mr. Masding has it already, but I will give it to him.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: KBC Bank (6 Feb 2018)

Kieran O'Donnell: Ulster Bank, which is in the same position as KBC in delaying dealing with redress and compensation, put most of its customers back on the correct tracker rate in 2014, if my memory is correct. Why did KBC not do likewise? Why did it not do this much earlier? What was the earliest point at which the 3,000 customers were identified? Was it the end of December?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: KBC Bank (6 Feb 2018)

Kieran O'Donnell: How difficult is the physical process of putting people back on the correct tracker rate? Can the bank just say what the rate was and update them automatically using its software? I am referring to the rate, not redress or compensation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: KBC Bank (6 Feb 2018)

Kieran O'Donnell: That does not really answer my question. Why, at the end of December, could the bank not have put a time period aside early in the new year to put everyone back on the correct tracker rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: KBC Bank (6 Feb 2018)

Kieran O'Donnell: Does Mr. Verbraeken believe this is the final number for KBC? Have there been further discussions with the Central Bank on the full cohort?