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Banks still don’t fear consequences of tracker theft - Pearse Doherty TD

25 April, 2018 - by Pearse Doherty TD

Sinn Féin Finance spokesperson has reacted to news of thousands more tracker victims having been identified in a Central Bank report. 

Deputy Doherty said the fact that 3,400 new cases have been included in matter of weeks since the December Report shows that the banks still do not fear the consequences of their theft.

He added the focus must now be on making sure the banks and bankers responsible face punishment and on the remaining issues such as the groups still excluded from the review.

Deputy Doherty said:

“I welcome the Central Bank’s Report again showing how their hard work is paying off.  

"I am deeply angry at the fact that so many years after this scandal was exposed these newly discovered cases will only be starting the compensation and redress process now due to the 'verification' process. 

"We need a full explanation of what this entails and why these 3,400 cases have only now been included. We must recall that all cases were supposed to have identified last year.

"The banks still think they can get away with their theft. They are fighting tooth and nail against their own customers to keep them excluded. 

"That is the only logical reason 3,400 more cases have been found in the last few weeks under Central Bank pressure. CEO after CEO shedding crocodile tears does not cut it, their actions show that they are still behind the scenes challenging their own customers.

"As far as I am concerned this is not the end of the story. I am sure there will, be court cases over remaining issues and the level of redress and compensation. 

"I reiterate the advice to victims that there is no drawback to accepting the initial compensation offer, your appeal will go ahead anyway.

"I am concerned that the report could be seen as attempt to draw a line under the ongoing issues groups where the banks are continuing to deny that they were at fault such as the staff issue, infamous KBC 'Flyer' group as well as those put back on a so called prevailing rate far above what a tracker would have been. 

"I will continue to press for these groups to be included.

"The need for an overhaul of white collar crime measure including support for my Bill allowing individual bankers who lie to the Central Bank to be jailed is required.”

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