We don't know why the 2,600 customers of AIB are getting their trackers back.
In the one case reported on askaboutmoney it's because a couple split up. I am really surprised that they are giving her back her tracker. They were under no legal obligation whatsoever to do so. I don't think that they were under any moral obligation either.
In other cases,there was a dispute about wording. Where the FSO agreed with the borrower's complaint, they got their tracker back. Where the FSO did not agree, they didn't get their trackers back. I understand that these are being reviewed and some will be getting their trackers back.
AIB is entitled to use the wording of its contracts to decide whether or not to give someone a tracker. That person has the right to appeal to the Ombudsman or the High Court.
I strongly disagree with AIB's decisions in these cases: AIB restoring my tracker - but at 3.67%!
I think that they deserve a fairly priced tracker more than the people who took out new mortgages when splitting up. But, that is a question of judgement. I don't think that AIB is cheating.
There appears to be something different going on in ptsb and Ulster Bank. My guess is that it was not just a matter of arguing over the interpretation.
In ptsb, it might be because they took an appeal to the Supreme Court knowing it was destined to fail, because by dragging it out, other borrowers would become time barred. If that is the case, then they deserve a severe penalty.
In Ulster Bank's case, I think it's because they knew that the wording in some FSO complaints meant that they would have to return the tracker. But they defended the complaints because they knew that some borrowers would just give up. Again, if that it the case, the people involved should probably be barred from working in financial services.
If AIB or any other lender has been involved in not returning trackers to people where they knew that they were entitled to those trackers, then those staff should also be barred from working in financial services. This may be the case, but I have seen no evidence of it yet.
This again stinks ,who made this call to fiddle people how did one bank follow the other .Where does secrecy stop is it just from middle management up ? Has even one person so far lost their job directly from this scandal .