Timmy Dooley (Fianna Fail) | Oireachtas source

The Leader will be aware of a news report that issued on Friday evening through RTÉ’s “Prime Time”. I will be cautious with my remarks here. It was considered by many to be surprising that AIB had settled a debt of €9.5 million with a retired sports celebrity. That surprise turned to shock and anger over the course of the weekend, when many people sought to recall incidents of small mortgage holders having been pursued aggressively by AIB and other financial institutions to a point where, in many cases, they were forced to sell their home to settle debts or forced into relinquishing all their assets and found themselves homeless. Others last year had their mortgages bundled into a block with a sale value of €400 million, believed to be originally worth about €700 million, and the assets were sold on to Cerberus. Those of us in public life who have constituents or people in our area whom we represent regularly hear from people who have had to deal with those vulture funds, which are seeking through every possible means to recover the outstanding debt. The stress, hassle and pain that has put on families is intolerable in some cases and, according to my information, has led to some people's demise and death because they felt there was no way out.Consequently, many are shocked that somehow, there was a twin-track approach. There was another way if a person was considered to be of standing, part of an elite or of some particular stratum in society. AIB has a duty, not just to the shareholder, who is the taxpayer in this incidence, but to all its other customers who have gone through the torture and pain of attempting to address their indebtedness to the bank and for whom there was no write-down. AIB needs to come out clearly and explain. It will not be acceptable for it to hide behind the usual line, which is it does not discuss personal matters. This is in the public domain now. It is a matter of public record. It needs an explanation. I call on the Leader to arrange a debate on behalf of this House on the particular way in which AIB deals with customers and if necessary, write to the bank to seek a very clear and concise statement from it.