Alan Farrell (Dublin Fingal, Fine Gael)
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86. To ask the Minister for Finance if financial institutions are meeting their targets in respect of the tracker mortgage scandal; and if he will make a statement on the matter. [53406/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy is aware, the Central Bank’s most recent Tracker Mortgage Examination status update report was issued on 17 October last and it indicated that, as at the end of September, approximately 13,000 mortgage accounts have been identified as impacted through the examination.  This is additional to the 7,100 mortgage accounts which were rectified and remedied prior to the commencement of the industry wide examination.  In addition, since the October update report, one lender has accepted that it has a further 6,000 impacted accounts.  Lenders have also commenced the payment of redress and compensation to impacted customers and to end of September €120 million had been provided to customers in respect of approximately 3,300 accounts pursuant to the examination.  A further €43 million in redress and compensation payments was paid by two lenders prior to the commencement of the industry wide examination.

The Central Bank will publish a further update report on the tracker examination next week and I look forward to receiving this.  It will be important to find out more conclusively the number of people who have been affected by the tracker scandal and the progress banks have made to deal with their impacted customers.  It remains the priority of the Government and the Central Bank to complete the tracker examination as quickly as possible and to ensure that all impacted accounts are identified and that appropriate redress and compensation is paid to the affected borrowers.