KBC Bank: Why it was not in a position to criticise the Central Bank

KBC challenges the financial services ombudsman’s right to hear 27 complaints related to tracker mortgage issues, claiming they are out of time. Having been over-ruled, the bank had put out a statement saying that it would not challenge such cases a month previously, carefully avoiding mention of the fact that it was one of the lenders implicated by the ombudsman.

It emerged in letters between the bank and the businessman that KBC started investigating incorrect interest charges on his account in 2017 – nearly two years after the Central Bank instructed the State’s lenders to review tracker mortgage issues.The Central Bank instructs mortgage lenders they can no longer impose legal fees and other charges on borrowers in arrears who are co-operating with their bank to resolve the issue.

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