Results 16,721-16,740 of 35,756 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: -----starting next month, informing them that they are one of the impacted accounts. In that letter, will the bank outline the prevailing rate as calculated by AIB? AIB will be saying to them that they are contractually entitled to a tracker mortgage, but because of the prevailing rate at the time the bank has calculated that they would have been worse off if they had had it. Will the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: The bank is going to start writing letters next week. It will begin in February, is that correct? There are 4,000 customers involved here. I am sure somebody has considered that. This is a fundamental issue. AIB is making a call to the effect that they would have been worse off if they went on a tracker.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: I presume that the basics of this-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: Today's prevailing rate. They will be offered the rate of costs today.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: Yes, but the reason-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: I know that. However, the reason that these individuals are not being given redress or increased compensation is that AIB has calculated that collectively and individually, they would have been worse off. I presume that the bank has a duty to specify what the prevailing rate would have been when they came off a fixed rate, or when the option was available to them under the terms of the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: Perhaps Mr. Byrne can contact the committee and let us know, one way or the other, when a decision is made as to whether the bank will provide this information or not. I was going to ask the witnesses about iCare. I welcome that initiative. I also welcome the funding of the Ó Cualann Co-Housing Alliance. There are positive things happening there. However, I want to return to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: Was it the work of EY or that of the Central Bank that identified the 4,000 customers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: When was the first time that the Central Bank-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: EY's work has not been completed, by the way.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: Yes, I know it is ongoing. The Central Bank's work is ongoing as well.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: When was the first time that the Central Bank alerted AIB of its belief that there was another cohort of individuals involved, which we know know as the 4,000 prevailing rate customers? When was the first time that happened?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: Was that in October or November? Perhaps in August?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: Was it before the last time the witness came before this committee? Was the Central Bank challenging AIB before its representatives presented to this committee about the 4,000 customers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: At that time, was the Central Bank challenging AIB on 4,000 customers that AIB did not believe were within the scope of the framework?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: I know that. We now have additional information. I will ask the question again. At that time, was the Central Bank challenging AIB on the subject of those customers?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: I want Mr. Byrne to say "yes" or "no". I do not mind, I just want to know.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: I will tell the witness what I want to get to. I want to get to this point. I want to figure out when the Central Bank started to raise an issue with AIB regarding its belief that there were thousands of customers that AIB were not including in the scope of the framework. I want to know when that started, what resistance AIB offered this argument, and how it eventually came to agreeing on...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: The Central Bank only started to raise these issues in the final quarter. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)
Pearse Doherty: It did not raise them with AIB before that point. Is that right?