Almost 14,000 people added to list of those affected by Irish tracker mortgage scandal

Staggering figures have been released on Wednesday afternoon.

More than 13,600 bank customers have been added to the list of people affected by the recent tracker mortgage scandal, bringing the total number close to 33,700 in total.

The regulator is currently conducting an investigation into how bankers had improperly denied tracker rates to borrowers, and by the middle of December€297m had been paid out to customers in redress and compensation, according to RTÉ  - writes joe.ie.

Five main banks have been caught up in the scandal -KBC Bank Ireland, AIB, Bank of Ireland, Permanent TSB and Ulster Bank - and all are expected to issue updates on their own impacted accounts on Wednesday evening.

The regulator claims that most customers affected by the scandal have now been paidcompensation by their lender.

Central Bank Governor Philip Lane said "many lenders publicly state that they put customers first. The evidence of the Examination that we have seen suggests otherwise.

"The Central Bank recognises the devastating effects that lenders' failures have had on families and individuals. That is why we're using all our powers to force the banks into line and ensure all affected customers are included for redress and compensation.

He added that, "customers can accept the redress and compensation offered and still make an appeal - they can 'cash the cheque' safe in the knowledge that what they have, they hold. Redress and compensation offers cannot be reduced if a customer makes an appeal."

The Central Bank's Director General for Financial Conduct Derville Rowland added, "While the Central Bank's view is that the vast majority of customers have now been identified and included for redress and compensation, we will continue to review, challenge and verify the work undertaken by the lenders and complete our intrusive on-site inspection programme."

Read more news of Dublin on our site.

joe.ie
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