Image: Alamy Stock Photo Image: Alamy Stock Photo THE CENTRAL BANK has fined AIB and EBS almost €100 million for the role of the two banks in the tracker mortgage scandal.
In a statement following the fines, the Central Bank said that AIB had “failed in its obligations towards its customers”.“AIB’s failings caused unacceptable harm and loss to those impacted customers over the course of nearly 18 years. Thousands of customers were overcharged and, at the worst end of the scale, customers lost 53 properties, 13 of which were family homes,” said the Central Bank in a statement.
Our investigation found that when AIB withdrew its tracker mortgage offering there was no proper regard or concern for the impact on its customers.What followed was a litany of failings where customers were wrongly denied their tracker entitlements and others lost their tracker rates due to AIB’s deficiencies in its provision of day to day mortgage services.
Findings from the investigation into EBS found that the bank did not properly manage its mortgage services, which then lead to breaches in both consumer protection rights and contractual rights. “These deficiencies meant that EBS did not comply with its obligations to customers and many customers lost their tracker product/interest rate margin as a result, and were overcharged for sustained periods of time,” Cunningham said.
Source: Loan Digest (loandigest.net)
Is this 2009?
14yrs Too late.
What about TD's
Rubbish, never happen...they ket them all off in this country and rewarded what was left...joke cou try !
I’ve a bridge to sell you.
A plan ... that aims to
Next up: Civil servants
After all the horses have bolted. The minister for corrupt banks & vulture funds is a joke.
I just spit my dinner across the table laughing here. Wasn't this done already after the 2008 bankers theft from the country,? Or was thst all a dream and bankers still doing what they were doing ?
Ah here its not April fools. Thats got to be a joke..he needs to look closer to home at his colleages being held responsible.
Next week 👏 well done pal
Need one for bringing politicians to account 💯
more fitter for him to bring legislation that holds him and his government ministers and cronies to account. Getting away with a disgraceful performance and ruining the country so much so that even the Irish president has called them out as a disastrous performance.
why not there wont be any banks soon enough
Yeah right 🙄
Where do all these fines go? Back to the homeowners or government coffers?
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AIB and EBS fined record €96.7m over tracker issuesThe Central Bank has imposed fines of €83.3m and €13.4m on AIB and EBS for consumer protection breaches relating to tracker mortgages. Does anyone have the number for how much they made from the breach? Where do these fines go? Who gets these fines?
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AIB and EBS fined record €96.7m over tracker issuesThe Central Bank has imposed fines of €83.3m and €13.4m on AIB and EBS for consumer protection breaches relating to tracker mortgages. Does anyone have the number for how much they made from the breach? Where do these fines go? Who gets these fines?
Source: rtenews - 🏆 1. / 99 Read more »
Source: IrishTimesBiz - 🏆 6. / 77 Read more »
Source: IrishTimes - 🏆 3. / 98 Read more »