Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
FINANCIAL REGULATORS CONSULTED gardaí on the tracker mortgage issue, but no reports have yet been made.
The tracker mortgage issue centres around thousands of people who paid higher mortgage rates than they should have.
The remarks were made by Central Bank officials to the Finance Committee today.
The Central Bank’s head of enforcement Derville Rowland said that she met with gardaí to discuss the tracker mortgage issue ‘in general’ terms.
Rowland says they considered “taking action against senior members” and bringing sanctions forward, which is within the remit of the Central Bank.
“In this context no reports have been made to date.” She said she met with gardaí and discussed the issue in general terms, and the Central Bank continues to regularly engage with the gardaí on the matter.
There are open investigations at the moment involving Permanent TSB and Ulster Bank. There’s also one concluded case with Permanent TSB’s Springboard – where the lender was fined €4.5 million as well as repayment fees.
In that particular case, Rowland said, “we demanded that the consumer interest was put as a first priority”.
The Central Bank said today it is reviewing the exact value of what thousands of customers lost out on over the years when they should have been on a better rate.
The assessment is expected to be concluded by the end of September this year, they said, but there’s no exact figure on rebates for customers, or if there will be fines involved.
Real effect
Earlier today, TheJournal.ie reported that a widowed father-of-five from Co Kerry who was overcharged by Bank of Ireland on his mortgage payments is now in a battle to stop the bank from taking his family home.
The bank secured a possession order on 40-year-old Raymond Flavin’s house in Lisselton last year, only to later admit he had been caught up in the tracker mortgage scandal.
In the Finance Committee today, Central Bank governor Philip Lane said that there was a “systematic and widespread aspect” to the tracker mortgage scandal.
“It manifested itself in different ways, in different institutions over different periods of time, to different customers.
It does require comprehensive approach; there was a cultural issue that was in favour of the lender and not in favour of the customers.
He also said that lenders should “never have been as aggressive as they were in terms of how they viewed these contracts”.
If you have been affected by the tracker mortgage scandal, we want to hear your story. Get in touch by sending a message to trackermortgage@thejournal.ie.
With reporting from Michelle Hennessy.
To embed this post, copy the code below on your site
Where is the rest of the story? Is that it? There was more information in the
Sub heading than in the few paragraphs below.
Hi Niall,
If you click on the slideshow, each slide has a caption that explains a different point. Can you see the slideshow?
If not, let us know what device you are viewing it on. It’s working on desktop and I’ve just checked it on iOs
and Android and it seems fine there too?
I’m still getting used to this new media way of viewing information! Sorry guys thanks
No problem!
Ummm… What’s it got to do with the Internet? It’s about a pirate TV channel. These were pretty common place all across the US in the 70s & 80s.
It was an absolute SHITE film then and now!! [
Apart from Debbie Harry that is]. Its one of those films you can take whatever meanings you want to out of it or none at all.I took from it that whoever wrote it was on drugs when he wrote the script.
Very weak connections considering the movie focuses on the cathode ray tube being mystical. The addiction and effects are based on a scientist experimental beams.
Not exactly predictions to anything.
Scanners. Cronebergs masterpiece. Eastern Promises underated too
cronenberg is a body horror master, crash, the fly, rabid, scanners etc,etc.
I have loved his recent progression to more drama like material like eastern promise, history of violence & a dangerous method. didn’t like cosmopolis
history of violence was fantastic too!
Debbie Harry yes yes and yes! The movie was terrible.
Long live the new flesh!
Might be a Sh1t movie but a hell of a lot better then any Iris made Movie. and I wonder where internet comes into play it this story.
I will read over it and over it never know it might be in there somewhere in hidden files.
Better than The Snapper? To name but one!
It’s medication time Declan, open wide and swallow.
I think you’ll find Michelle he said ‘Iris made’ One can only assume he was referring to East German filmmaker Iris Gusner
Furthermore: could we all stop talking about the Snapper please? Yes, its just about better than Videodrome but then a documentary about whale sh*te would be too.
Tony la plonk
declan, exactly what is your problem with Irish movies????
you have yet to give any reasons, so stop trolling!!!
@ Michelle: snappy comeback
There’s hardly any link between Videodrome and the internet.
Brian O’Blivion. That about says it all. I expect the author of this wrote it while watching porn with his free hand.
have your say