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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: They are not.

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: With respect to the bank's buy-to-let portfolio, what is position regarding the right of the bank to call in the arrears on a buy-to-let loan if it is in arrears of €10,000 or €50,000? Does the bank have the right to write to the borrower asking them to clear the arrears on it within 30 days and advising that, if this does not happen, it will either repossess the property or...

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: Will Mr. O'Sullivan explain the difference between appointing a fixed asset receiver and going through the legal process for possession?

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: It is a way of not going to the court, having the ability to sell the property on the market and redeeming the loan.

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: PTSB does not do 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: PTSB would go through the courts in such an instance.

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: And the write-off of the residual amount.

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 that still available for those with buy-to-let mortgages? The bank did a big drive on that last year. Is that still available?

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 wish to touch on the fees charged by the bank. I raised this issue with Mr. Masding previously. The bank increased its fees in August 2017 by more than 400%, with its fees increasing from €3.18 up to €18 per quarter. It has now taken a decision to restrict that even further because many individuals would be wealthier, or customers would pay their wages into their accounts...

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 justification for that? I also asked the representatives of the Bank of Ireland that question. For quite a number of people who are working and have decent jobs, the requirement to have €2,500 in their accounts every day for a month is quite an achievement given the pressures on people. Why would fees be waived for those people and charged to those who are struggling to...

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 bank not concerned that new entrants to the market such as Revolut will take over? Many young people, in particular, are using those alternatives. They have caught on to the banks. If all those customers who have less than €2,500 in their accounts per day, whom the bank is charging fees because they are not providing it with enough credit, withdrew their money at 12 o'clock...

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: With the indulgence of the Chairman, I have a final question. I started by raising the issue of provisioning for the fine that will be issued from the Central Bank of Ireland and it is only a matter of time before that happens. The fine can be €10 million prior to 2015 and 10% of turnover from that period on, so we will see what the figure will be. Those in the Central Bank have...

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 someone's guilt have to be proven in a court, as opposed to by the Central Bank?

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 Central Bank has not yet identified somebody from within the bank so I do not want to suggest they have or will.

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 somebody within the bank is identified as personally culpable in the tracker mortgage scandal, the Central Bank can levy a fine of up to €1 million on that individual. Would that fine, after the Central Bank has deemed that person responsible and levied that fine on them individually, be paid by the bank through that insurance or would the individual have to carry it?

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 appreciate it if Mr. Masding comes back to the committee on 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: Glenbeigh is not regulated.

Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation (4 Apr 2019)

Pearse Doherty: I have just come from the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach, which has been hearing from small businesses about the serious impact on them of the cost of insurance increases. We heard from Ms Linda Murray from Navan, who operates a soft play centre. She was very brave as she recounted her personal story. She broke down before the committee as she...

Ceisteanna ó Cheannairí - Leaders' Questions (4 Apr 2019)

Pearse Doherty: No matter what way the Tánaiste wants to spin it, we were sent pictures yesterday from individuals who were in University Hospital Limerick as 92 patients were lying on trolleys in corridors, wards and the accident and emergency department. The pictures are of ward 1A with padlocks and a chain around the gate. There are 17 beds behind those doors that could be accommodating these...

Ceisteanna ó Cheannairí - Leaders' Questions (4 Apr 2019)

Pearse Doherty: -----that people are dying as a result of this crisis, and the Government is failing to address it after eight years in office.

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