# Banks Before Finance Committee



## SaySomething (12 Jun 2017)

The following banks will appear before the Finance Committee in the coming days. I believe they are all to be questioned on the tracker issue, along with other topics.

15 June - PTSB
22 June - Ulster Bank
29 June - Bank of Ireland
TBC - AIB
TBC - KBC

The Finance Committee kindly provided me with this information on my request. Jeremy Masding (PTSB) is listed for this Thursday.


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## Onceagain (12 Jun 2017)

Time to knock on our TD's doors once again with questions.


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## Threadser (12 Jun 2017)

Which TDs are on the Finance Committee in the Dail? I intend to contact them before June 29th to complain that BOI have failed to refund 9 years worth of tracker overcharge six months after it has been discovered. No detail on the amount owed or any idea when it might be paid No communication at all from them on the issue since last February. They continue to treat their customers with absolute distain.


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## Miakk (12 Jun 2017)

Was just thinking the same Threadser, found it on the oireachtas website:
http://www.oireachtas.ie/parliament/oireachtasbusiness/committees_list/fpert-committee/members/

I want to know what Ulster Bank are doing about former First Active customers like myself who lost their trackers on fixing


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## Threadser (12 Jun 2017)

Thanks for the information Miakk . I will give BOI a call for an update this week and if I get the same vague response I will email all the members of the finance committee. Maybe they can make some progress on our behalf.


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## RebelOg (13 Jun 2017)

Would someone have a draft email please that I can use to send to my local TD Michael Mc Grath who is on finance committee


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## Brendan Burgess (13 Jun 2017)

Very interesting to see that KBC is appearing. For the first time, I think.

Brendan


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## SaySomething (13 Jun 2017)

RebelOg said:


> Would someone have a draft email please that I can use to send to my local TD Michael Mc Grath who is on finance committee


My best advice to you is not to send a samey-samey email. Mail them your story & explain why you feel let down. The biggest factor in getting the TD's (and press) to sit up and pay attention is personal stories. People relate to personal stories. They don't relate to rote-emails.


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## Miakk (14 Jun 2017)

That's the approach I took SaySonething.  I got in touch with John McGuinness who is the Chair of the committee. I told him my story and also how the whole thing has played out, including the FSO process and the ongoing "review" of my case that seems to be going nowhere. 
The human cost (including the general stress of it all)  is significant and the banks need to be held accountable for this as much as for the financial losses. They need to hear the stories behind the figures.


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## RebelOg (14 Jun 2017)

Thanks Say Something, working on it now


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## PadKiss (14 Jun 2017)

Hi All
Just wanted to let you know that the Finance Committee meeting scheduled for tomorrow is cancelled and will be rearranged to another date. (A lot to do with events of today in the Dail). I did however today, have a very constructive meeting with the Chair of the Committee Deputy John McGuinness covering several matters in relation to the issue. I can certainly state that John is determined to get to the root of the matters of concern on behalf of all affected by this debacle. I will be uploading my latest update in the coming days to bring people up to date with where matters lie at present. 
Padraic


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## Threadser (14 Jun 2017)

Thanks for this information Padraic and for all the work you have done to date on behalf of those affected by this tracker scandal. I rang BOI tracker mortgage team today for an update and was told that it would "probably" be the end of the year before I would be given any details of redress or compensation. I don't think it's acceptable that I should be expected to wait almost a year before getting a single cent of a refund of my own money from Bank of Ireland. I emailed John McGuinness and my local TDs to highlight the issue. I await their responses.


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## Onceagain (14 Jun 2017)

That means 2018, unreal.


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## Leighlinboy (15 Jun 2017)

Míle buíochas as always for everything Padraic. KBC hauled over the coals , ill believe it when i see it , their rep will probably be delayed in traffic by a few months .


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## SaySomething (16 Jun 2017)

I got a message from the Finance Committee. 

ALL bank hearings delayed until September. 

There are not enough expletives.


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## Gen360 (16 Jun 2017)

#SaySomething Is this for real? I am absolutely stunned, there is no way this can be allowed to drag on any longer. Did they give any reasons for the delay?


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## Mickon (16 Jun 2017)

What a joke!!! I can see September slipping away too. It might be interfering with their holidays god love them.
They will wait till last hour in September and then extend it


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## SaySomething (16 Jun 2017)

No joke I'm afraid.


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## Threadser (16 Jun 2017)

So the banks will continue to be allowed to hold onto their customers tracker refund money which should have been refunded within a reasonable time frame. It beggars belief that they are allowed to do this without any consequence. In some cases this amounts to €20,000 - €30,000 of overcharge. How can they be allowed to treat their customers in such an atrocious manner and get away with it.


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## peemac (16 Jun 2017)

Threadser said:


> In some cases this amounts to €20,000 - €30,000 of overcharge.


I think that would be the lower end! 

Considering you are talking tiger era mortgages - ours was a 450k mortgage,  the calculated overcharge is in excess of 40k. I would suspect that many mortgages were in excess of 450k,  so many will have been overcharged a lot higher and its one of the reasons the banks have fought this so much.


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## Sarenco (19 Jun 2017)

Irish Times reporting on AIB and PTSB submissions to Finance Committee:-

http://www.irishtimes.com/business/financial-services/aib-compensates-2-600-overcharged-mortgage-holders-1.3124522

_"AIB told the Joint Committee on Finance, Public Expenditure and Reform, in a submission dated last Tuesday and obtained by The Irish Times, that by the end of March, it had identified about 3,100 such customers who had previously been denied their contractual rights to a cheap rate linked to the European Central Bank. That’s up from a previous figure of about 3,000.

The bank said that all the affected customers had been contacted and “redress of compensation has been paid to circa 2,600 customer accounts and the remaining circa 500 in progress to be completed by the end of June”. 

Separately, Permanent TSB informed the committee that it has “fully redressed” 92 per cent of 1,372 customers it had identified in July 2015 as being afftected by such overcharging, including 220 in its former subprime mortgage unit, Springboard__d__. 

As of the end of the first quarter, it had found a further 182 affected customers. It has written to 162 of these and “expects to communicate with the remaining 20 in the coming weeks”._


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## Threadser (19 Jun 2017)

Good to hear that AIB will have refunded all it's affected customers by June this year. Meanwhile Bank of Ireland continue to hold onto much needed customer refunds and will not not now be called to account until after the summer.  Once a refund is issued I will be closing my accounts with them having been a customer of theirs for 35 years.


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## Leighlinboy (19 Jun 2017)

Interesting piece, was there an expectation that aib and ptsb were to identify many more customers than whats contained in this ?


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## moneymakeover (20 Jun 2017)

What about the AIB affected customers who have not been recognised?


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## Bikini Widow (20 Jun 2017)

Would be interesting to see the numbers (to date) for how many AIB/EBS customers who are affected but not being recognised.


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