Results 16,421-16,440 of 35,756 for speaker:Pearse Doherty

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

Pearse Doherty: Did the issue of the cases where appeals were lodged ever reach board level in the bank? Were decisions ever made in that regard? Was anybody at a senior level made aware that in more than 40 cases, people were asserting their rights to a tracker rate? Was such a person asked what should be done about it? Was that every discussed at a senior level?

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

Pearse Doherty: Why is it that only 501 accounts have been redressed and returned to their tracker rates? Perhaps the more appropriate question is why, in February 2018, are nearly 2,500 accounts still on the wrong tracker rate?

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

Pearse Doherty: As of today, they are still on the wrong tracker rate, however.

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

Pearse Doherty: Some 2,473 accounts.

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

Pearse Doherty: KBC was notified of this review at the same point as all the other banks. Is that not correct?

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

Pearse Doherty: Then why is KBC so far behind? Ulster Bank is one of the outliers, but KBC takes the main prize. It is the worst in terms of both redress and compensation and in putting customers back onto their tracker rates. We are talking about fine language but, as we speak, the bank is automatically deducting money it is not entitled to from its own customers' accounts every single month. There are...

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

Pearse Doherty: KBC submitted its phase 2 report to the Central Bank on time, did it not?

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

Pearse Doherty: And when was the final phase 2 report submitted?

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

Pearse Doherty: The bank had to have its final phase 2 report in by the end of March 2017. Did it meet that target?

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

Pearse Doherty: How many impacted customers were identified in the bank's phase 2 report in 2016?

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

Pearse Doherty: Fewer than 100?

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

Pearse Doherty: And that figure went up to 2,974?

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

Pearse Doherty: Did the Central Bank have to come in and twist the banks arms on a number of these cases or how did-----

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

Pearse Doherty: Is it not the case that the reason the bank is screwing over 2,500 of its own customers, even at this point in February 2018, is because Mr. Verbraeken, as CEO, and his bank have been fighting the Central Bank for the past year and a half trying to make sure it does not give its customers back the money it wrongly took from them? Is that the reason, in reality, if we cut out the rest of it,...

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

Pearse Doherty: Other people will come in on this and the public will make up its own mind. How did the bank compensate individuals where there was a loss of the home with regard to the six family homes and 27 buy-to-lets? What is the compensation process for them?

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

Pearse Doherty: How does the bank gauge the impact that losing one's home has on an individual? Has the bank thought about it? Has it thought about the impact of having to tell one's children the bank is taking one's home and of packing up the toys and moving to a different area? Many people feel shame as a result of that. Irish people are very proud. How does the bank gauge all of that and put a value...

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

Pearse Doherty: Will that be for free or will the bank sell them back their homes?

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

Pearse Doherty: Basically, the bank is selling them back their homes. They will take out a mortgage with KBC to get their home back. It did not answer the question. Perhaps it did answer the question because the bank is looking at it very much in financial terms and considering the uplift and so on. All of that has to be done. In the scenario I put to Mr. Verbraeken, what price does he put on having to...

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

Pearse Doherty: Can every customer who is given an offer of redress and compensation cash the cheque and then appeal the case?

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

Pearse Doherty: I have one final question on the 650 private dwelling homes that were deemed impacted. They are individuals who took out mortgages in the period of November 2006 to February 2008. Can Mr. Verbraeken explain to the committee why the bank has chosen those dates? I raised this over a year and a half ago with the bank. I presume it is to do with the advertisement and the leaflet that was...