AIB What are the implications of the ptsb fine for AIB prevailing rate customers and other tracker customers still in dispute?


Registered User
Hi Brendan , my letter was dated 22 March. I’m well over the 12 months. Does that mean there’s no point in appealing and if there’s a positive outcome I’ve got to hope it includes all of us that received the €1615 compensation? Not just those that appealed.
brendan will this fine on tsb help our case

Brendan Burgess

It certainly has no direct implication.

ptsb has two major cohorts with a similar issue to AIB Prevailing Rate issue and neither were mentioned by the Central Bank so that would suggest that the Central Bank is not challenging ptsb's interpretation of the issue.

Likewise, the Central Bank is not challenging AIB's interpretation either. So it would probably embolden AIB.

If AIB loses the prevailing rate issue, it will cost them €200m. So it's not worth their while to treat customers fairly in order to try to mitigate a fine which will probably be no more than €20m.



Registered User
Spot on Brendan AIB will fight this one to the bitter end. It’s crucial we get one of these over the line and make sure it’s public. To my mind this is straightforward malfeasance. Nothing more nothing less. They did wrong and need to undo that but as the quantum is so high it’s worth them throwing the kitchen sink at it to avoid their responsibilities. I estimate their liability at €180m for the prevailing customers. That buys a lot of lawyering up.

BTW I think the AIB fine will be in the region of €250m. CBI can fine up to 10% of turnover and discount for co-operation. They will have the absolute book thrown at them, which in fairness they fully deserve.