Jim O'Callaghan talking about the Central Bank fine. At last
CEO: When I became the CEO 3 1/2 years ago, I decided to bring the tracker mortgage issue to an end.
I regret that this ever happend.
the priority of the board has been to conclude this to the satisfaction of teh Central Bank
Helen Dooley (legal) 56 breaches by AIB
We moved as quickly as we could to remedy the customers' situation.
Jim: Not just a once off, But a campaign of dishonesty
Helen: We are precluded from saying anything other than what is in the settlement agreement
Hunt: Just to add to that: Our focus was on correcting the wrong that was done. and ensuring that this would never happen again. We will make mistakes but we will try to correct them as quick as possible.
Jim: You admitted to failing to act honestly. That is not a mistake.
Jim: When did you become aware of the problem
Dooley: 2015 and the CB TME
Jim: April 2019 : You were here at this committeee and you consistently denied the Prevailing Rate customers were deemed not impacted.
Has your view changed 3 1/2 years later
Dooley: As part of the settlement we applied the Ombudsman ruling to 6,000 customers. That is all
Jim: Has anyone been sanctioned as a result of this.?
Dooley: As with any issue, we conduct a full lessons learnt review.
Jim: Has anyone in the bank been sanctioned by the bank?