Results 16,401-16,420 of 35,756 for speaker:Pearse Doherty

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

Pearse Doherty: I appreciate that so I am not asking Mr. Masding if the bank has increased the provision in the 2017 accounts. However, what was the provision in the 2016 accounts?

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

Pearse Doherty: It is €145 million altogether. Of that amount, €45 million is the customer's own money back and of the other €100 million it is costing the bank, €12 million is in compensation to the customer. Therefore €88 million is going to advisers, bankers and whatnot. Many people profited and unfortunately the customers got the raw deal here. The money was taken...

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

Pearse Doherty: I do not have an accountancy background. Why would the bank provision for existing staff costs? Did it increase its complement of staff by 200? I understand that it did not do so. If it did not increase the complement of staff by 200, why would it have to make a provision for staff?

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

Pearse Doherty: Does that mean these are additional staff?

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

Pearse Doherty: Therefore the bank took in 200 additional staff.

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

Pearse Doherty: Okay. I will leave it at that.

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

Pearse Doherty: Do the delegates believe there is a problem with the culture of KBC Bank?

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

Pearse Doherty: Does that apply to individuals or the systems in place in the bank?

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

Pearse Doherty: Is Mr. Verbraeken trying to tell the committee that it was due to practices as opposed to culture?

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

Pearse Doherty: Does Mr. Verbraeken believe the bank broke the law?

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

Pearse Doherty: Were there no legal contractual rights that the bank denied customers?

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

Pearse Doherty: Would it be a legal entitlement under their contract?

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

Pearse Doherty: In not providing the rate, is it not the case that the bank has denied them their legal right, which is a breach of the law?

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

Pearse Doherty: That speaks to the culture and the problem in the bank. Mr. Verbraeken has acknowledged that some customers were denied their legal contractual rights, but bankers are unwilling to say they broke the law. Is it not fair to say they broke it? Some customers had a legal contractual right to a tracker mortgage rate, but the bank did not provide it, for whatever reason, whether it was systems,...

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

Pearse Doherty: Did the holders of any of the 1,097 mortgage accounts that rolled on to a non-tracker rate mortgage raise an issue with the bank after July 2008? Did they say that it was their view that they had a contractual right to a tracker rate that they would like to assert?

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

Pearse Doherty: Mr. Verbraeken agrees today that both his bank's own appeal mechanism, which customers would have had to go through, and the Financial Services Ombudsman were wrong in their findings and that those individuals were indeed impacted.

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

Pearse Doherty: If 40 customers went to the FSO, how many actually made complaints to the bank or asserted their rights with it? If 40 went to the FSO and went through that process, we can expect that multiples of that figure raised concerns with the bank. That is what happens. Does Mr. Verbraeken know how many did that?

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

Pearse Doherty: What years are we talking about?

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

Pearse Doherty: Given it is now 2018 and that KBC still has 2,000 customers who have not even been put back onto their proper tracker rates, what does Mr. Verbraeken have to say to those individuals who went to the bank to assert their legal right to their tracker rates and who were shot down by the bank and failed by the Financial Services Ombudsman? What does Mr. Verbraeken have to say to them in respect...

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

Pearse Doherty: I would like to hear from the chief executive officer, CEO, on this issue. I have no problem with Ms Deering coming in as well but I ask the CEO what he would say to those who asserted their rights and who were failed by the bank over an eight-year period.