Midwest Radio

Mayo Senator says Central Bank must end tracker mortgage scandal

The Oireachtas Finance Committee has been hearing today from the Governor of the Central Bank, as their investigations continue into the mortage tracker scandal.

It’s now been confirmed that 13,000 customers were affected when their banks took them off tracker mortages, and some of the customers have this week outlined the impact it has had on their finances and on their lives.

Today, the Governor of the Central Bank Phillip Lane told the Oireachtas Committee that, while it’s possible 11 banks that took customers off tracker mortages were behaving as a cartel, he has yet to find evidence of that.

 

Mayo Sinn Fein Senator Rose Conway-Walsh says the response of banks has been inconsistent and the Central Bank needs to take stronger action against non-compliant banks, using the powers at their disposal.

 

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