ACC Bank to Close. What Next For Mortgage Holders?

http://www.independent.ie/irish-new...-business-centres-to-the-public-29699544.html

Mr Knightly added: "ACCBank has remained at the forefront of loan recovery activity in the Irish market. We will continue with our approach to loan recovery but do not need to be a fully licensed bank for this purpose."

As an ACC mortgage holder this statement scares me. These guys are already aggressive in their debt recovery tactics so without being fully licensed for the purpose of debt recovery I am starting to shudder already.

Hi Wishes

As far as I know, they will continue to be covered by the Code of Conduct on Mortgage Arrears. However, if they don't stick to it, there isn't much you can do about it. The Central Bank probably won't put the boot into them on that side.

Brendan

All standard MARP oversight and procedures will still apply regardless of banking licence to the loan book of ACC. Danske and Ulster are also effecting the same strategy. Central bank oversight and standard rules of engagement and dealings with clients will remain unchanged by this announcement.

hi 44b

I gathered that ACC have announced that they will no longer be a licensed bank.

Dankse and Ulster are licensed.

I think that the comparison should be with Bank of Scotland.


Brendan