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Maximum pressure must be exerted on banks to repay tracker mortgage victims - Pearse Doherty TD

23 October, 2017 - by Pearse Doherty TD

Sinn Féin Finance spokesperson Pearse Doherty has said Minister Paschal Donohue must put maximum pressure on the banks to ensure a speedy resolution to the tracker mortgage scandal which will see all victims of the banks repaid their money as soon as possible.

Speaking today Deputy Doherty said the government should tell the banks that they are going to reverse the 2014 decision to allow them to pay no corporation tax for as long as 20 years.

Deputy Doherty said;

“Minister Donohue must come out of today’s meetings with a clear timeframe, from each individual bank, with the number of customers who will be repaid each week, with all affected customers fully reimbursed and compensated before Christmas.

“Let’s be clear, this isn’t hugely complex for the banks. They know who these customers are and its not beyond them to have this issue dealt with relatively quickly.

“Minister Donohue should use all powers at his disposal to exert maximum pressure on the banks to repay all moneys owed as soon as possible.  He and his government have dragged their feet for too long on this issue.

“He should also tell them that he is going to reverse the 2014 decision that allows banks to pay no corporation tax for as long as 20 years.

“Minister Donohue must also ensure that the public interest directors on the state owned banks account for their actions as the public interest was clearly not protected when the banks were illegally moving their customers onto higher interest loans.”

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