Tracker victims at the Oireachtas Finance Committee 9.30 am today

roan

Registered User
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14
Quote"The Department of Finance said last night that the Central Bank has powers to compel lenders to redress customers, but only dating to 2013 legislation.

It added: “The Central Bank does not have statutory powers to compel lenders in respect of failures that occurred prior to the introduction of the Act" unquote

In other words the Central Bank is toothless!!
 

Threadser

Frequent Poster
Messages
237
Lets hope the media coverage this week will encourage more of those affected to speak up, get angry and get emailing TDs. There were 602 BOI customers including me identified as affected by this in Dec 16th. I have been wondering have the other 601 been waiting patiently all year to get some information from the bank or are they similarly annoyed and frustrated by the lack of action. I haven't seen any of their stories in the media. There are thousands of others affected across all banks and now is the time to speak up, put the pressure on and let the regulators. banks and TDs know that we have had enough and we want action. 20,000 people plus cannot be ignored if everyone gets involved.
 

MrBanks

Frequent Poster
Messages
60
I really don't know. The only thing is if the highest office in the country (Leo) is telling them to do the right thing there, does the political pressure outweigh the lack of legislation.
P.s anyone interested in going on Pat Kenny? Message me and will put you in touch.
 

SaySomething

Frequent Poster
Messages
573
John McGuinness in the Irish Times today, moots the suggestion that the banks have their licences restricted until they resolve the issue: https://www.irishtimes.com/news/ireland/irish-news/banks-should-be-restricted-over-mortgage-scandal-td-says-1.3255688

In relation to the Central Bank's ability to push the banks to redress... It's clear that for some it's a clearcut breach of contract situation. For others it's an obvious breach of the CPC (consumer protection code), and for others it's a little more grey.

For all, we are now hamstrung within the Tracker Examination Programme with nowhere to turn until the banks redress.

Now if the CB had said, right anybody who is affected pre 2013 can now go to the Ombudsman or legal route, then we'd know where we stood. That leaves the post 2013 cohort to be dealt with under the Examination and the rest to pursue our cases directly.

Instead, we are powerless in the face of an Examination that is dragging on far too long.
 
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SaySomething

Frequent Poster
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573
Um why does the Central Bank say this in its documentation in May 2016?

The Statute of Limitations does not apply to the Central Bank’s powers to enforce compliance with
regulatory requirements including those relevant to this Examination and does not negate lenders’
obligations to comply with the relevant regulatory requirements set out by the Central Bank.

https://www.centralbank.ie/docs/default-source/consumer-hub-library/tracker-issues/tracker-mortgage-examination-clarifications-5may2016.pdf
 

Stitcher

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Messages
147
Can someone enlighten me about the 2013 legislation? Is there a link to it somewhere? My issue with bank was in 2009.
 

robe

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69
Is it just me or is the absence of these stories in the Sunday papers a bit strange ??
 

Brendan Burgess

Founder
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39,607
Hi robe

It's not strange at all. Sunday papers often avoid a news item which they feel has been covered before. And no one can doubt that the issue got great coverage this week.

Brendan
 

Mauritius

Frequent Poster
Messages
129
I had my story is one of the main Sunday newspapers. All done, written, proofed, photo of me outside the bank etc.... ready to go but pulled by the editor at 8pm on Saturday night. The banks in this country still wield all the power.
 

Threadser

Frequent Poster
Messages
237
I had my story is one of the main Sunday newspapers. All done, written, proofed, photo of me outside the bank etc.... ready to go but pulled by the editor at 8pm on Saturday night. The banks in this country still wield all the power.
That is shocking. Did the editor give you a reason why it was pulled?
 

Mauritius

Frequent Poster
Messages
129
I wasn't informed. I found out when I bought the newspaper and it wasn't in it. What happened to me if fairly shocking, like many of the real life accounts during the week. It is still not resolved and I think the newspaper was afraid of the bank taking legal action.
 

Mauritius

Frequent Poster
Messages
129
That's what happened to me. I gave the my story. First time I ever spoke out about it. I think the editor was so shocked by the bank's treatment of me he doubted if it was true!! Ripped off big time....
 

Gavin77

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Messages
93
Mauritius I'm sorry to hear that. For you to speak up speak out bring all the details to the forefront of your mind and processing it all again is hard in itself. Then putting it out there for all to read takes guts. Then you do it and it's pulled! Am I shocked that it was pulled no. Not that's it's the same but I spoke at the city west meeting for the radio. The reason I spoke was i had heard kbc in the oireachtas saying how they want to hear if people are suffering. When I phoned them many years ago when things were spiralling i had many ph calls... one with them telling me if I can't afford my morgage there's plenty of opportunities for me to better myself. Ect ect. I spoke about these conversations, that whole part of the interview was cut and they just played the end.
It just goes to show the constant boundaries that exist.
 

Mauritius

Frequent Poster
Messages
129
Yes you're right, Gavin77. I had to dig up the past nine years and go through it all again. I was motivated by the same reason as you. When KBC completely blanked the Oireachtas Finance Committee, I decided the time had come to speak out, even though a large part of me doesn't want the country to know my personal business. I weighted it up and decided that the country needed to know what a terrible, greedy, arrogant lot they are, hiding behind their cute little slogans like "The Bank of You." Don't fall for it! They don't care about "You." All they care is about making money out of 'you' - as much as possible. Maybe it wasn't the right time for my story to come out. Perhaps the editor did me a favour. But I am so sick of this and how it is dragging on and on and how nobody seems to have the power or ability to get it sorted out. The banks are still winning.
 
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