Tracker victims at the Oireachtas Finance Committee 9.30 am today

I have just seen the people who were in front of the dail committee today and my god, youre heart would go out to them, theyre so brave to go there to explain their lositions to the committee. Adequate financial compensation is the least that should be offered to these and many peolle affected by this issue especially people who lost their homes due to the rampant overcharging by the banks. People like the ones on six one today for starters should be told that their mortgages are fully paid up and this should be followed up by the useless consumer protection bodies such as the ombudsman and central bank. People in banks responsible for this should be prosecuted and jailed but that of course would be doing the decent thing which up to now hasnt been done by the state authorities which is another matter entirely. This overcharging is a serious national scandal and its time it was treated as such. Ive been involved in the SVR gouging scandal mainly but this issue serious as it is is well behind whats going on here although im quite sure if research was done on the SVR overcharging issue some people lost their homes here too due to paying over the european normal rates Im listening to Hazel Melbourne now and shes so brave to go on tele to tell her story. I was on six one myself a few weeks ago and spoke about trying to get MIR kept which is the least the state could do to compensate people on excessive SVRs who have done more than their share to get the dasterdly banks profitable again and more attractive for sale. I have heard Padraig Kissane speak at a few meetings ive been at on this threads issue and he is doing wonderful work on the tracker issue and deserves huge credit.
 
Hi SS

I have had this argument for over 10 years with the Financial Regulator and later the Central Bank.

Every senior executive must meet the standards of fitness and probity.

They have probably told the senior executives already, that they would not regard someone who does not treat customers fairly does not meet their standards of probity.

Most of the cases of lost trackers would not have a chance in court if it were based on the strict legal interpretation of their contracts. The CB has told them to go beyond this and the banks have all agreed to do so.

Brendan
 
Thank you to everyone that appeared today on behalf of all of us and to Padraic and his staff for standing up to the banks over the last few years. I found a lot of similarities with my own case while listening to the 4 cases today and how the banks treated them. Even though my case is with a different lender the tactics are the same . Even though the people responsible may be gone and no longer at the banks the treatment still going on today is shameful. Amazing how often the paperwork or recorded calls are not available when it suits them. There seems to be momentum building and politicians that genuinely seem willing to help, hopefully we are finally getting somewhere but sadly may be still a long way to go for some of us.
 
Thank you to Padraic & all who put themselves forward.

Having been given the run around by the bank and then the FSO, I could completely relate to Helen Grogan’s words:

“The one thing is the rage and frustration and anger that I was ripped off by the bank and duped by the bank, into thinking I had a product I could count on. That’s the thing about this.”

“It took me a couple of years to get over the fact that the ombudsman had found against me.”

Ms Grogan added: “Isn’t it such a disgrace that we are all made to feel responsible for making a silly or stupid decision or not getting the right advice or letting the banks ride roughshod over us.”

...it still smarts when I think of the bank’s and the ombudsman’s comments (in writing) that I should have got independent legal advice before fixing my tracker- as if that was the standard, as if that excuses what was basically misselling by the bank (as before I would sign the fixed rate paperwork I specifically requested a product that would retain my tracker). Silly me, UB & the FSO maintained it was all my own fault!!! How dare they.
 
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I went back after the bank. I wrote to them every week last year - 40 times. I had a meeting with Ulster in December. They spent the meeting telling me to stop writing to them. In January 2017 they deemed me as impacted.

I know my case is more complicated because I switched banks.

I wrote to the CB saying that they were not adhering to the CB guidelines.

So I applied to the FSO again. They told me in June that they had not got my online complaint as there were problems with the system. But they won't do anything until the examination is finished.

.

Well done Niamh Byrne.

I'm an Ulster bank customer, about 10 years ago I got a phone call from a manager in my branch to tell me that they'd been overcharging me. It's not a normal mortgage. I was refunded around 10K. I'd never have known only this person spotted it and I'd been sending emails about my interest rate. When my 'mortgage' ends I will hire someone like Padraic Kissane to check the mortgage for the entire term in order to see if I've been correctly charged all along. I advise anyone with mortgages to do the same.

In relation to the ignorant response of Ulster to Niamh in telling her to stop writing to them. Just who do they think they are. I've had my own letter writing to them and I've come to the conclusion the staff are specifically trained to avoid answering letters correctly.

I also went to the FSO (previous office) , no surprises I lost, though I did get compensation (twice, small beans).

And I don't at all understand how this saga can carry on for so many years and still not be sorted. Does anyone think that if a CEO of the bank had this kind of issue it wouldn't be sorted within 24 hours.
 
Irish examiner

http://www.irishexaminer.com/ireland/mortgage-expert-30000-people-will-be-hit-by-scandal-460858.html

The tracker mortgage scandal will, “without a shadow of a doubt”, affect more than 30,000 customers before the authorities get to grips with the matter, far higher than the 15,000 currently estimated by the Central Bank.

Mr Kissane, who has been advising hundreds of customers since the tracker scandal broke, said: “It is financial abuse on a grand scale, contrived to deceive customers of their contractual rights.”


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Well said Padraic. You who have been working tirelessly for years to help broken people. With your relatively small office taking on the biggest most powerful endless deep pockets banks for years on behalf of the little people
 
Padraic is dead right too about the banks being a cartel. About their arrogance and condescension.

Padraic I especially like this:

The had been stalling, stonewalling and obfuscation by the banks since the scandal broke, he added.

“Their slogans are lies and full of marketing nonsense,” he said. “The integrity of financial services has been destroyed.”

As Padraic and the customers affected now know, all there is is greed. No humanity. None whatsoever. And in the face of desparate people and suicides too. I've no doubt that some posters who came on here for help committed suicide, I read their stories and they were in many cases broken people. I never thought they'd win against the banks, but it's way too late for many.
 
Niamh was interviewed for Newstalk Breakfast and I commented on it at around 8.15 this morning.

Helen Grogan recorded an interview for the Pat Kenny Show on Newstalk which will be coming up soon.

Padraic will be on Seán O'Rourke.

Brendan
 
I just listened back to Helen Grogan on the Pat Kenny radio show this morning. She was excellent in explaining what is a complicated story.

She has also spoken at the ptsb AGM and it's a pity more victims don't come forward and tell their story.

When ptsb sees Helen and Ulster Bank sees Niamh, they know that they have a real battle on their hands.

Brendan
 
I listened to Helen Grogan this morning .. I thought you were excellent.. very composed.

I thought Pat Kenny was excellent .. demonstrated very good understanding of the details.

I think Helen would agree he managed to get to the heart of the story.. a "tracker girl" :)
 
Niamh and the other impacted customers gave a great account of issues to the Oireachtas committee yesterday
You were all absolutely great.

Check out the full video of the proceedings at www.Oireachtas.ie, playback, committees. Oct 12. Finance committee.
I have looked at it again and it is so powerful. Hopefully we can take this all the way.

It starts about 37 mins in.

The publicity today on radio and in papers was so powerful too.

Can't believe that Leo has a tracker!! HE Knows what WE have been deprived of.

It is so powerful.

http://www.oireachtas.ie/viewdoc.asp?DocID=37016&&CatID=127
 
One of the better days in the history of this saga , serious media exposure in last few days , míle buíochas to everyone who shared their stories , Padraic and Brendan stressed the need for these individual stories , papers and media really ran with them !! Hope this head of steam leads somewhere , central bank we are all watching ur next move !
 
This is the 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.

From
http://www.irishexaminer.com/ireland/central-bank-urged-to-intervene-on-trackers-460511.html


Is this limit on the central bank only in relation to "redress"?

Does the central bank have the power to restore people to tracker? Dating back to pre 2006?

Does the central bank have the power to tell ptsb to put Helen Grogan back on a 0.8% tracker? And she has since left ptsb.


Does the central bank have the power to tell Ulster bank to put notabene back on her original tracker? And she is no longer a Ulster customer.

Or will the central bank say something like: we know you're right. We can't do anything. You will have to go to court.
 
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