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Dáil passing of Sinn Féin Multi-Party Action Bill is good news for tracker mortgage scandal victims

16 November, 2017 - by Donnchadh Ó Laoghaire TD


The Dáil has today accepted the Multi Party Action Bill, proposed by Deputies Donnchadh Ó Laoghaire and Pearse Doherty. The Bill was supported by Fianna Fáil, Labour, Solidarity & People before Profit as well as Independents.

Speaking today, Donnchadh Ó Laoghaire TD, said that this was significant news for those who had been ripped off in the tracker mortgage scandal.

“I am delighted the Dáil has passed this bill, and I believe it is a very significant statement in favour of this model of litigation.

“For far too long the law has been balanced in favour of the powerful and the wealthy. This bill redresses that Balance significantly.

“Powerful bodies have advantage of the fact that those affected are often not in a position to take an action themselves, because of the financial cost in doing so alone.

“People, who have been ripped off by banks, or who have suffered due to negligence or fraud or malpractice on the part of individuals or institutions, can now come together and move forward on the basis of strength in numbers.

“It allows people who have been affected by a similar injustice to take an action together.

“We want to give those affected by scandals like the tracker mortgage scandal the tools to take on the banks, and the passing of this bill is a significant step.

"The bill will now proceed to committee stage, and I look forward to engaging with other deputies on improving the bill and making it law."

ENDS

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