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Banks attitude to tracker scandal still reprehensible - Pearse Doherty TD

19 August, 2019 - by Pearse Doherty TD


Sinn Féin spokesperson on Finance Pearse Doherty TD has said the fact that some banks are contesting investigations being conducted by the Financial Services Ombudsman into tracker mortgage cases illustrates that the culture within the banking system has not changed and that the banks attitude to those affected is still reprehensible.

He added that, if necessary, he will introduce legislation to close this supposed "loophole" that the banks are citing.

Teachta Doherty said:

"When legislation I introduced to remove the 'six year rule' became law in 2017, it was never intended that this would allow for banks to claim the loophole they are now citing; rejecting complaints based on previous contact prior to that date by those affected by the tracker scandal.

"In fact, the legislation was passed to ensure that many of those affected were able to have their cases heard by the Ombudsman and many of them have. Claiming a loophole now based on previous contact flies in the face of assurances from the banks that they have changed and that there has been a cultural shift in the banking sector.

“In fact, it demonstrates that their repeated apologies in respect of the tracker mortgage scandal count for nothing and their attitude to customers is still reprehensible.

"If the banks persist in trying to block investigations by the Ombudsman and fighting those affected on a technicality, then it is my intention to introduce legislation to close this supposed loophole in the coming weeks and I would urge the government and all parties in the Dáil to get behind this to ensure that those affected by the scandal are able to seek redress and compensation".

ENDS

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