Failed by banks, ombudsman, regulator and Central bank

Bronte

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http://www.independent.ie/business/...-to-go-to-court-by-central-bank-36242702.html

How many on here would agree that ordinary people in Ireland have been failed by the above. It's laughable that the Central Bank won't take action and instead expects Joe Soap to trek over to the four gold mines to take on the top legal firms in the country who are all clients of the biggest and most powerful institutions in the state - the discredited banks.

Only about two weeks ago a senior judge mentioned that the courts system is not available to ordinary people because of the prohibitive costs.

See how the likes of heroic Padriac Kissane has been battling for years for the little guy in the face of institutional stonewalling. Of a regulator asleep at the wheel and pensioned off into king style retirement. Of politicians doing nothing, I found it insulting to hear Leo Varadkar speak this week on the matter, like we believe he'll do anything. Of running an impossible odds case with the previous ombudsman (two cases myself). Of receiving the most bureaucratic designed to drive you insance correspondance from banks (been there too). A systematic system designed by banks to wear you down. Of a new 'friendlier' ombudsman, ha. Like that makes it ok then.

And even if you do get somewhere, you get further diddled with a high tracker. Or derisory 'compensation' that would hardly pay for a holiday never mind make up for years of hell.

How many broken families, how many emigrants, how many suicides is enough.
 
It is dispiriting to watch this coverage today
basically the CB is saying write to the banks and then the ombudsman and go to court, we'll write to them too, but we can do nothing for the individual in the face of the biggest financial scandal in the country.
 
So disappointed listening to the Central Bank. They have no intention of doing anything about the two lenders who refuse to deem impacted those that the Central Bank deem as impacted.

The Central Bank were supposed to have the final say on this.
 
Missed morning session. Cant believe im seeing this.

Customers such as I have been. complaining to Banks for 2 years and totally ignored. CB are copied and aware of this.

Where is their power or concern .Time for them to get real on this.
 
so what are we left with, Court? who has the time or the money.....ooh sure the government is going to sort it all out now, sure we'll be grand then so....
 
Am I correct thinking

  • The CB is asking the banks to make final call
  • The customers deemed "not impacted" will go to the ombudsman
  • The ombudsman has the power to impose a decision on the banks ie reverse their opinion
  • The CB has the full list of affected customers

In time eg march April we will win back tracker
 
I have already been through the FSO process , albeit not under the current ombudsman, and am still drained, disheartened and smarting from the experience.
I can’t afford legal action.

If the Central Bank can’t do anything more, the customers are just playthings in the hands of the banks, there is zero consequence or incentive for them.

For all the recent grandstanding by politicians, everyone in power is letting us down.
 
If this was in the UK, the FSA would come down on the banks like a ton of bricks. The banks here must be laughing at the impotent Central Bank doing nothing again. They were asleep at the wheel when the banks here collapsed and have decided to let the banks run roughshod over customers on tracker mortgages while doing absolutely nothing.

And all of us who work in financial services have to pay these people every year, including a recent increase to pay for increased funding levels to their defined benefit pension scheme.


Steven
www.bluewaterfp.ie
 
I think all the customers affected should stand together and stop paying their mortgage and then see what happens ! Bet you there will be some movement then.
 
The Central Bank should be given the power to force the banks to stop taking any further payments from any mortgage holder that they deem impacted, that will speed things up. Absolutely exhausted by this fiasco.
 
From what I took from it the cental bank didn't want any more power they are passing the buck back to the ombudsman. ...which I have no clue where that leave us who the ombudsman already said no to. I thought today was the start of clarity seeing what the plan was. Seeing authority, deadlines ect. I am baffled. I think I had hope in central bank listening to padraic kissanne speak of them. I fail to see them in the same light as he does. The only one smiling and rubbing their hands together are the banks. Unless I'm missing something.... ? I think the conclusion that kbc are not playing ball is more than accurate so what's next? What can we do?
 
We need to come as one and try create a run on worst bank to show who is paying who. No mortgage payments no lodgement and no savings. Pick one bank and close it. The leftovers will change!
 
What about Europe and the role of European regulation , I think this needs to go to Europe otherwise no one cares and will do what te banks already have gone ignore people in the right to get away with it .
 
What about Europe and the role of European regulation , I think this needs to go to Europe otherwise no one cares and will do what the banks already have done ignore people in the right to get away with it .
 
I agree that the Central Bank should be given more powers as an emergency measure with regard to pre 2013 bank activities. I accept it may be GUBU but it is in response to a Gu BU period in recent Irish History regarding fallout from an economic collapse in our country!
 
The Central Bank is not fit for purpose, and is abdicating its responsibilities. I get the impression the current Governor doesn't want any involvement with this, doesn't want any more powers, wants all the little people to go away so he can go back to crunching numbers.
 
Odyssey06

I absolutely totally agree with your "in a nut shell comments"

Are BOI and KBC customers going to sit by now and let Lane push us all aside
"We Deem you impacted but the bank says your not impacted" the Central Bank were supposed to have the FINAL SAY" it was not supposed to be the "banks" final decision. This situation has now been changed by LANE.

Lane has asked KBC "come back to us by the end of the month if you change your mind"

What on earth is going on here?

It's not acceptable to all these customers who are impacted.

Why at this stage in the Central Bank tracker examination should some who are impacted be forced to go to the Ombudsman and the courts ??while Other customers of other banks deemed impacted be put back on the Tracker rates with immediate effect and receive redress and compensation. Where is the justice in this.??

This needs to be highlighted in the media that this position that the Central Bank is now taking is totally unacceptable and unjust. A complete and utter failure of the whole Central Bank Tracker Examination.

Anyone who is impacted in these banks should write to the finance committee and complain about how the Central Bank has changed its tune.

Lame is passing the book.

I'm totally outraged that the stonewalling of KBC of not only the Irish Parliament but also of the Central Bank in the whole tracker debacle has now now gone in their favour. This in itself is am absolute scandal and MR Lane should be ashamed of his wimpish actions.
 
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