Central Bank fines KBC €18m over trackers

demoivre

Frequent Poster
Messages
2,668
KBC are so traumatized by the actions of the Central Bank that, to date, they appear to have ignored the correspondence sent to them, and the other Banks, last October regarding the applying of legal fees in repossession cases to borrowers' accounts before cases are completed. They were told not to do it.

I saw one case this week where almost €9k in fees have been added to a borrower's account with the case no where near conclusion.

Needles to say KBC are quaking in their boots at the thoughts of the Irish Banking Culture Board waving their big bata at them.
 
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Seagull

Frequent Poster
Messages
1,255
Put the directors and senior management into a catch-22.
Either they didn't know what was happening, and should have, and so are unfit to act, or they did know what was happening, and did nothing to stop it, and so are unfit. Either way, they get kicked out and barred.
 

Calamity

New Member
Messages
3
Hi , I am new on this. I think it's great that there has been a fine for KBC, however it is little solace to me. I have been caught up in this mess with them for over 10 years, starting out on a fixed rate in 2006 and when it expired, I was automatically put on a high variable rate and have been ever since. On a number of occasions, I have asked about what fixed options I may have but as I am in 'negative equity' they dont even listen to me. I have somehow managed to keep my re[payments up todate to the detriment of my health and family life.

This fine means nothing to me as they are certainly not listening to me or many like me. My case is being looked after by an advisor who is now dealing with this on my behalf and is of the view that I have a good case for the tracker redress. It is however taking an inordinate length of time and at times I ask myself , is it worth it atall. I really hope that this matter is dealt with soon.
 

WizardDr

Frequent Poster
Messages
1,239
I am rather surprised that very little was mentioned about Padraic Kissane. ('PK')
I seem to recall that KBC indicated that they had no cases at an early stage, none at all.

When PK went knocking on the KBC door about the 'flyer' issue a number of contributors here were so skeptical that visit to psychiatrist was hinted at.

This was well before CBI 'engaged' and it was on PK submissions they acted on as he had more cases of similar facts than any other being on the planet.

Noting the departure of Governor Lane - a really good man - I see that the CBI have not acknowledged his work since Mr Lane's departure or their own vast shortcomings.

Anyone that got their KBC mortgage back on tracker owe Mr Kissane a kiss on the cheeks. That would go a long way.
 

Inferlatium

New Member
Messages
5
I am rather surprised that very little was mentioned about Padraic Kissane. ('PK')
I seem to recall that KBC indicated that they had no cases at an early stage, none at all.

When PK went knocking on the KBC door about the 'flyer' issue a number of contributors here were so skeptical that visit to psychiatrist was hinted at.

This was well before CBI 'engaged' and it was on PK submissions they acted on as he had more cases of similar facts than any other being on the planet.

Noting the departure of Governor Lane - a really good man - I see that the CBI have not acknowledged his work since Mr Lane's departure or their own vast shortcomings.

Anyone that got their KBC mortgage back on tracker owe Mr Kissane a kiss on the cheeks. That would go a long way.
Hi WizardDr,

Did the Central Bank of Ireland force KBC to remove the unfair terms in KBC contracts that it discovered during its examination?
 
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