I received an update from ? to say that all the 1800/2000 staff mortgages are now within the "scope" of the investigation .I expect all of these accounts to be re instated back to their original contracts ie tracker.So the Sunday Times piece is correct.I also understand that the new Ceo is anxious to resolve this immediately but the main concern within the bank is how do you compensate people for the overcharging and how do you calculate redress.Without doubt a case will be taken to the courts once the bank admit their wrongdoing.It would appear to me that the new Ceo is intent on changing the culture and the public perception of Bank of Ireland .The tracker fiasco gives her that opportunity.
Expect to see some high profile departures from the senior management and board in the immediate short term.
Expect to see some high profile departures from the senior management and board in the immediate short term.