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KBC tried to prevent Financial Ombudsman from examining 27 Tracker Mortgage cases – Pearse Doherty TD

12 September, 2019 - by Pearse Doherty TD

Sinn Féin Finance spokesperson Pearse Doherty TD has criticised KBC after it was revealed they had been contesting investigations by the FSPO into tracker mortgage cases, to try and block compensation for affected customers.

Speaking today, Teachta Doherty said:

“Today we in the Finance Committee received correspondence from several banks in response to a letter received by the Financial Services Ombudsman.

“The Ombudsman said that ‘some banks are rigorously challenging the jurisdiction of this office to deal with complaints’.

“While many banks made clear that they had not and will not be challenging complaints on spurious grounds of ‘time limits’, KBC confirmed they had challenged 27 cases which were before the FSPO.

“This is proof that the culture within KBC has not changed, nor has its attitude to customers.

“They have now confirmed they will not be contesting any further claims due to the political and media pressure they have faced.

“This only demonstrates that their repeated apologies in respect of the tracker mortgage was based more upon their public image than any commitment to their customers.

“The Committee is yet to receive correspondence from Bank of Ireland or Permanent TSB.

"When legislation I introduced to remove the 'six year rule' became law in 2017, it was never intended to be used as a loophole - rejecting complaints based on previous contact prior to that date by those affected by the tracker scandal.

"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 KBC that they have changed.”

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