# 3400 additional tracker cases identified



## peemac (25 Apr 2018)

3400 more 'soon to be happy' people - though on reading the CB report rather than the newspaper report, this figure may include people who have already been communicated with since last CB report



https://www.independent.ie/business...-tracker-mortgage-scandal-rises-36843335.html



edit - this is probably a better link with link to full report rather than just the press release
https://centralbank.ie/consumer-hub/tracker-mortgage-examination


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## Editiono (25 Apr 2018)

Banks are being pulled dragging and screaming and fighting all the way...putting the customer first in not in their vocabulary!


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## demoivre (25 Apr 2018)

According to the Central Bank: The Examination requires all lenders to examine:


The extent to which they met their contractual obligations to their customers
*Their compliance with their obligations under relevant consumer protection regulations in their dealings with their customers*
Their communications with customers in respect of these matters.

The Consumer Protection Code tells us : A regulated entity must ensure that in all its dealings with customers and within the context of its authorisation it: 

2.1 acts honestly, fairly and professionally in the best interests of its customers and the integrity of the market;

*2.2 acts with due skill, care and diligence in the best interests of its customers;*

2.3 does not recklessly, negligently or deliberately mislead a customer as to the real or perceived advantages or disadvantages of any product or service; 

2.4 has and employs effectively the resources, policies and procedures, systems and control checks, including compliance checks, and staff training that are necessary for compliance with this Code;

2.5 seeks from its customers information relevant to the product or service requested; 

2.6 makes full disclosure of all relevant material information, including all charges, in a way that seeks to inform the customer; 

2.7 seeks to avoid conflicts of interest;

2.8 corrects errors and handles complaints speedily, efficiently and fairly;


There are numerous examples in various mortgage contracts that I have seen where the two sentences in bold above conflict. From the wording above I can't see how anyone coming off a fixed rate and rolling to the prevailing variable rate wasn't offered a tracker, if trackers were on offer either at the beginning or end of the fixed period. Ultimately it will be the courts who will decide imo.


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