Well in my opinion it does because 5.5% represented the tracker variable rate in the rates box on offer letter but BOI just have variable rate of 5.5% below box as what we would default to if we didn't select a rate ourselves.
FSO has asked everyone if they will put cases on hold till outcome of central bank review so will drag on till probably end of next year joke.
An update in July, the bank's own reports for the work they are doing at the moment, seeing what customers are involved, is due to the Central Bank on Sept 30th. If you ask the bank, the say no timescale and Ulster Bank's letter in June said an update every 60 days which, to me, indicates it is going to go on for sometime.
To that end, look at ptsb, nearly a year there at this stage, and from what I understand, far from sorted.