Finance Committee meeting Minister for Finance and Central Bank this week

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skinnylegs

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The Finance committee are meeting in public session twice this week re the ongoing tracker examination. On Tuesday at 2pm they meet with Paschal Donohue and then with Central Bank governor Philip Lane on Thursday at 9.30. As usual we need to email local TDs with relevant questions. Proceedings can be viewed on the oireachtas website.
 
Totally agree SaySomething.
I do have some hope however that tomorrow's meeting with Philip Lane will be more informative, particularly if he is asked the right questions.
 
Reminder that Philip Lane (et al) will be in attendance at 9.30am this morning. I'm hoping it will be more enlightening than the great admonisher on Tuesday. Am in work so unable to monitor the proceedings. Would very much appreciate any updates at all from other forum members.
 
I have tweeted relevant politians re: “prevailing rate”, again. Michael McGrath replied last night saying he would bring it up today!
 
Philip lane started off with some strong words against the banks behaviour but followed that up by saying most cases have been identified and redressed. He also say the banks are paying 600m to customers while it's costing another 300m in extra costs to the banks for extra staffing, as if we should feel sorry for the poor banks
 
Numbers of redressed only up by 600 from October figures, still 13k to be compensated. Governor lane says these will all be compensated by June. He also says all the big issues have been resolved and all the group's they think should be included have been.
 
Was Micheal McGrath questioning
of these figures to Philip lane that revealed they had only risen by 600. His initial statement made it seem like they were all redressed
 
Micheal McGrath has asked about the prevailing rate, Philip lane says
the bank should have offered trackers but didn't, following this up with some bull about trackers don't have to be fixed to the ECB and if trackers were actually offered they would have been expensive trackers
 
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Surely, if there is ambiguity in terms of what "a tracker at the prevailing rate" means then under the CPC etc., such ambiguity should be interpreted in favour of the customer?
 
If the central bank cannot get them to change it i strongly doubt the FSO or CPC will do so
 
51% of the 26k identified in this examination have been redressed and compensated. I don't think these figures includes the 7k identified before the central bank examination
 
Original 13k identified should all be paid by march and second lot of 13k should be paid by June. Both governor lane and derville Rowland are confident this is on track and will happen.
 
Anyone know if the individual banks are due to update of who have been included after this from the CB

Redman
 
Padraic Kissane this evening on matt cooper at 5.20 and was on radio 1 this afternoon aswell.
 
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