# Update and review from Padraic Kissane



## Brendan Burgess (6 Apr 2017)

This review from Padraic may be of interest to those of you who are not clients. I am publishing it with his permission. 

Brendan 


*Update March/April 2017*


*By means of update*


Dear All


I wish to bring to your attention that the Central Bank presented to the Finance Committee today 4th April 2017, with a lot of the presentation centred on Tracker Mortgages.


I watched with interest as I had raised a lot of the issues that were discussed between the Finance Committee members and the representatives of the Central Bank.


As  you will read there has been a further up date from the Central Bank issued last week which highlights, not only the startling figures of the number of accounts affected but also shows why the matter is taking the time it is.


Astonishing only 78,000,000 (78 million) has been awarded to affected customers and this comes mainly from AIB/EBS and PTSB.


I believe the end cost will be closer to 500,000,000( 500 million)which reflects, that there is a long way to go.


I acknowledge the mutual frustrations this is causing to all that are affected but we can now believe that all matters are being looked at and I am in constant contact with the Central Bank on your behalf, informing them of my positions in relation to the different cases and the different arguments that have been put forward by the offenders, the Banks.


I believe it can be taken as given that the Central Bank is going to be thorough in its investigation and I note the areas that are covered are not only the contracts but the environment that existed as well as communication, brochures , flyers etc. that were issued at the time.



Of course there are many questions that are still unanswered and I will on your behalf continued to deal with the Central Bank on each issue as it arises. 


I have now concluded the Appeals on behalf of the affected customers of PTSB/ Springboard who have engaged me to put their Appeal together.


There are startling facts coming through from these Appeals.  The more serious cases of home loss or legal issues are addressed through the Independent Review Panel and I must state my satisfaction in how these cases






are being handled.  Their levels of understanding of the issues are acceptable and there is a real sense of empathy towards the affected customers.  It is not a straight forward process but it is a process that is working.


The other panel which review all the other Appeals is not working.  In fact I would say with certainty it has failed the process it was set up to do.  The Customers Appeals Panel seems to have forgotten the key word in its title, The Customers.  Their lack of understanding of the issues, combined with their decisions that have only benefited PTSB .  It is beyond understanding.


I have made my views known to the Central Bank and have stated that no member from any Bank should be on any of the Appeals boards going forward.


I mention the Appeals process of PTSB simply to let you know that I am fully tuned into the process if someone wants to bring Appeals against their bank when the Redress letters are issued.


I am now setting about organising the public meetings for each Bank to give specific updates for customers but essentially the purpose will be to unite the cohort of customers to one informed voice on the matter.


A mass group will be more powerful, if we can achieve this, it will bring added pressure on the affected Bank.


*I cannot state clearly enough the importance of grouping together as it also provides us with the differing aspects of the cases. *


I am currently engaged with a large number of the EBS/AIB Appeals and we are now beginning to compile and complete these Appeals.  A lot of the issues are a repeat of the PTSB situation and the level of errors and inconsistencies in the Redress letter is astounding.


I have as you know under taken this work to achieve one outcome; everyone who should be on a tracker is put on a Tracker rate and at the correct rate and compensated properly.


In relation to the cases that are in the court process I will be back in touch on an individual basis towards the end of next week as I am meeting with Hugh Millar of Crowley Millar Solicitors this week on the matter.


I will inform you of the dates of the Public Meetings in the next week or so and the format for same.


Again if you have any specific queries please let us know but I would ask that you remain patient with us and we are not forgetting about any of you, you can be assured of that.


The challenge is great for sure but  “brick by brick” is my mantra, and remember, only one side has done wrong and  *It is not you. *


At some point in all of this you would think that their reputations is of some value,  I will let you know when any Bank changes their ways and begin showing some concern towards their reputation, but more importantly toward their customers.


We will be in contact soon, if you know of others, who are affected, please forward this email.


Padraic


----------



## nonie (6 Apr 2017)

Professional and knowledgeable. The only choice as far as I can see.


----------



## Lightening (6 Apr 2017)

"I believe it can be taken as given that the Central Bank is going to be thorough in its investigation and I note the areas that are covered are not only the contracts but the environment that existed as well as communication, brochures , flyers etc. that were issued at the time."

So the flyer counts!! policy of KBC at that time, etc. And so it should!


----------



## Lightening (6 Apr 2017)

Thanks Brendan!


----------



## SirMille (6 Apr 2017)

Great work!!!


----------



## Bronte (6 Apr 2017)

Once again Padraic you are doing outstanding work. Against all the odds you are getting there. It is heartening to hear from you the Central Bank are onside. No idea how a relatively small man operation like yours has resulted in you doing this outstanding mammoth task, but never mind that, how you and your small team have managed to achieve so much. Bravo to all involved, and I await with interest your continuing battles. On behalf of the little guy.


----------



## PadKiss (7 Apr 2017)

Thanks Bronte and others for the supportive words, it has been a tough journey for sure but at last we are finally making progress but alot done but plenty to do especially in the questions remaining out there for which we are still searching answers to. I must say however I have met some remarkable and wonderful people over the course of my investigations, it is just a pity our lenders dont see the nuggets they have in their customers, and it is shameful how each has been treated Padraic


----------



## Sligolive (7 Apr 2017)

Agreed Bronte. Not only is Padraic outstanding in what he has achieved, he is a gentleman and professional to the last.


----------



## Dan Murray (8 Apr 2017)

It is to Padraic's credit that he has relentlessly pursued justice over many years and against formidable forces. Bravo!

It is encouraging that Padraic believes that the Central Bank is finally getting its act together - this is very welcome although my belief is that the Central Bank's performance overall to date (i.e. over the last several years) has been very poor. I would add that if the Central Bank had done its job properly then the heroics performed by Padraic may not even have been necessary - or at least not to the same extent?!


----------

