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Pearse Doherty TD “not surprised” SMEs overchared €36 million

14 June, 2018 - by Pearse Doherty TD


Sinn Féin Finance Spokesperson Pearse Doherty TD has said he is not surprised at the news that Ulster Bank overcharged SMEs €36 million.

Deputy Doherty said:

“I am not surprised at the news that 18,000 customers of Ulster Bank have been overcharged, resulting in a total overcharging of €36m.

"Just a number of weeks ago I raised the issue of Ulster Bank overcharging their business customers with the Minister for Finance.

"Today's announcement by Ulster Bank adds to a series of overcharging scandals by the bank.

"Each year for the last 4 years, financial institutions have had to return on average €40 million to their business customers as a result of overcharging. 

"Today's announcement is just a continuation of that trend of overcharging.

"The constant in these scandals is that these so-called 'errors' always benefit the bank, never the customer.

"The other constant is that nobody is ever held accountable. As long as the law does not promote individual accountability these scandals will continue.”

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