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Minister Donohue fails to stand up to banks on behalf of Tracker Mortgage victims - Pearse Doherty TD

25 October, 2017 - by Pearse Doherty TD


Sinn Féin Finance spokesperson Pearse Doherty TD has described Minister Donohue’s statement this evening on tracker mortgages as a major climb down and a failure to stand up to the banks on behalf of the victims that they have robbed.

Teachta Doherty said;

“Only yesterday we were being told that all victims of the tracker mortgage scandal would be reimbursed and compensated before Christmas.

“Yet this evening the Minister is telling us that Ulster Bank will not pay back 2,500 victims until sometime in 2018 because of an ‘IT problem’; that KBC have not even identified the number of customers affected; and that hundreds of AIB customers won’t be compensated until next year.

“Minister Donohue has let the banks walk all over him.

“This is not a complicated issue.  The banks know who they have taken this money from, they know how much they owe their victims and they have the money in their reserves to do this.

“When we consider Minister Darcy’s confirmation that there will be 7,000 more victims in December, that means that the majority of victims will not be reimbursed and compensated until at least next year.  That is simply unacceptable.

“Minister Donohue’s statement also fails to mention the issues of compensation levels and the rates that the victims will be on after this whole debacle.

“The big issue he fails to deal with is individual accountability.  When will we see individual bankers held accountable for their actions.  This was by far the single biggest robbery in the history of this state and there are no signs of arrests being made.

“If we do tackle this issue head on then today’s tracker mortgage scandal will be another banking scandal in the future as these bankers will not fear the repercussions of their actions.

“Minister Donoghue’s statement this evening is a major climb down on his part and a failure to stand up to the banks on behalf of their victims.”

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