Central Bank appearing at Oireachtas Finance Committee now

[SaySomething]

@notabene phew! I thought you were pre-2013!!! My fault!!!

 

[notabene]

@SaySomething not at all, hard to keep track, thanks for watching my back though

 

[moneymakeover]

"It is also important to note that the Central Bank does not have the statutory power to compel lenders to implement redress and compensation programmes in respect of failures that occurred prior to the introduction of the Central Bank (Supervision and Enforcement) Act 2013. We were granted such powers, having sought them, in the 2013 Act."

Just to clarify, is he saying that prior to 2013 they have the power to restore trackers just not the power to obtain redress?

 

[skinnylegs]

@moneymakeover. Did you get any clarification on this post?

 

[moneymakeover]

Nope
Never got a response

 

[Brendan Burgess]

It's an academic point. All of the lenders have agreed to ignore the statutes and restore trackers and pay compensation on a fair treatment basis.

 

[corktim]

If 90% of customers have been identified I'd be really worried about former FA customers as I have yet to hear of one getting their tracker back.

 

[Milo4444]

Agreed I made my normal weekly call yesterday still on the same rate.

 

[corktim]

Honestly I can't believe it seeing as the CB seem to be taking enforcement action on these former FA accounts

 

[Milo4444]

How do you know the CB is specifically taking action on these accounts.

 

[corktim]

Hi Milo

http://m.independent.ie/business/pe...ainst-ulster-bank-over-trackers-34672938.html

 

[Milo4444]

Thank you 2k including FA and yet UB seem to have identified 2k at this point and none of them seem to be FA. Perhaps they will deal with FA seperately!

 

[skinnylegs]

Hey Brendan, can you indicate where the lenders have agreed to pay redress for losses to the customer prior to 2013.