Sinn Féin Bill would stop banks getting away with tracker scandal – Quinlivan
Speaking at a meeting of the Oireachtas Finance Committee, Sinn Féin TD Maurice Quinlivan has said a Sinn Féin Bill, that has already won unanimous support in the Dáil, could prevent banks getting away scot-free from moving people off tracker mortgages. The Bill would remove the six year rule which currently means that if a bank wronged a customer more than six years ago they can escape any penalty.
Deputy Quinlivan said:
“Today, the Finance Committee heard from the Financial Services Ombudsman that the Sinn Féin Bill would help in many cases where people moved off tracker mortgages or wronged in any other way by the banks or insurers or any financial institution cannot get redress because what happened occurred more than six years ago.
“This Bill won unanimous support in the Dáil almost six months ago. It is time to progress it. Every day it gathers dust is another day when the six year rule kicks in for families across Ireland. The comments from the Financial Services Ombudsman only strengthen Sinn Féin’s determination to abolish the six year rule as soon as possible. I will be working with my party colleague Deputy Pearse Doherty to make sure that happens as soon as possible.”