# Why not wait until all tracker cases before Central Bank  concludes fines?



## Calamity (23 Jun 2022)

I have been listening to this AIB announcement today regarding the fine and there is an issue that I dont get in that why apply these fines when there are still live cases within AIB and other Banks that need to be resolved. Would it not make more sense to deal with all the cases first and then apply the fines afterwards . It makes no sense to me, anyone else like to comment on this..


----------



## Don007 (23 Jun 2022)

I agree, Kbc were fined months ago and still a large cohort of cases remain


----------



## Brendan Burgess (23 Jun 2022)

It's a very interesting point. 

I was disappointed that it took so long to conclude the investigations and fine the banks. 

But, ptsb , KBC and permanent tsb were the first to be concluded.  And now that the investigations are over, they feel free to challenge the recent Ombudsman's decisions in the High Court. 

I would say that AIB was discouraged from challenging the Ombudsman's decision because they knew that it would only antagonise the Central Bank even further. 

But the tracker cases could be going on for years.  People have 6 years to go to the Ombudsman.  They are still getting new tracker complaints. 

Maybe the Central Bank should have issued a preliminary conclusion and fine? With it to be reviewed on conclusion of outstanding cases? 

Brendan


----------



## Nordkapp (23 Jun 2022)

Probably obtained a commit to resolve but it is time to put a closure on this.


----------



## Calamity (24 Jun 2022)

I dont understand the logic of the Central Bank imposing these fines until practically all cases are resolved if the cases that have yet to be resolved are compromised in any way. Mine is a KBC case and KBC have already been fined so does that mean that they are now in a better position to challenge clients than had the fine not been imposed . If that is the case then questions need to be answered on this.


----------



## Johnno75 (27 Jun 2022)

Doesn’t it still remain the case that any further decisions of the Ombudsman in relation to any further outstanding issues on the tracker matter will have general applicability across the board to all affected customers?

Likewise, there are a number of cases still making their way through the courts. If any case is run in the court (ie not settled), the court’s decision will have a precedent value and establish a precedent for all subsequent cases with similar facts.


----------



## Brendan Burgess (27 Jun 2022)

Johnno75 said:


> Doesn’t it still remain the case that any further decisions of the Ombudsman in relation to any further outstanding issues on the tracker matter will have general applicability across the board to all affected customers?



Yes.  

The Central Bank has concluded its investigation and fined, Ulster, KBC and permanent tsb. 

All three have since challenged Ombudsman's decisions in the High Court.  

Brendan


----------



## Calamity (5 Jul 2022)

Brendan Burgess said:


> Yes.
> 
> The Central Bank has concluded its investigation and fined, Ulster, KBC and permanent tsb.
> 
> ...


Thanks Brendan, Just a query on this, does that mean that the early application of these fines could have compromised these Ombudsman cases, if so, then that is certainly an issue.


----------



## Brendan Burgess (5 Jul 2022)

Calamity 

It's a double edged sword. 

The Ombudsman is not compromised in any way.  They could have appealed to the High Court before the investigation was finished, but they were probably less likely to in case they brought down the wrath of the CB on them.

On the other hand, anyone making a complaint to the Ombudsman on the AIB Prevailing Rate issue for more compensation, should be sending a copy of the Central Bank report with their claim to show exactly what they were up to.

Brendan


----------

