# "Compensation to be paid by Christmas" headline - Beware



## SaySomething (23 Oct 2017)

I see that the reliability of certain press articles has been mentioned quite a few times already. The above headline is on a breaking news story on the Independent today. 

It is likely it'll be carried by all the main newspapers shortly.

However, if you read further into it, the article states that all the main lenders will commence their redress and compensation schemes by Christmas. This is actually no different to what the Central Bank said last Thursday.

I wouldn't hold your breath is what I'm saying. For example, Ulster Bank have been lauded as being 1 of the 3 banks who have already started redress. Hold onto your applause though as they've only redressed 40 accounts to date (according to a press report yesterday), which is just 2 more than they disclosed at the Oireachtas Finance Committee over a fortnight ago.

Having a redress and compensation scheme in place by Christmas is simply optics.


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## Kwacker76 (23 Oct 2017)

@SaySomething thank you, fully agree. Account number 41 will be redressed by Ulster Bank at 23.59 on 24.12.2017 which technically  means theyve begun to pay by Christmas...


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## justo (23 Oct 2017)

Kwacker76 said:


> @SaySomething thank you, fully agree. Account number 41 will be redressed by Ulster Bank at 23.59 on 24.12.2017 which technically  means theyve begun to pay by Christmas...



I agree with you both... but
_
'Philip Lane says vast majority of confirmed cases to get refunds before Christmas' _

Just now in the Irish times online 

https://www.irishtimes.com/business...est&utm_medium=email&utm_campaign=news_digest *

*


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## noproblem (23 Oct 2017)

It still doesn't solve the problems an awful lot of decent people encountered and the goverment are doing Absolutely Nothing for them.


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## Banking17 (23 Oct 2017)

I cant understand what Prof Lane has based this statement on.
From recent evidence I understood Banks couldn't even complete calculations and were overwhelmed by task eg Ulster Bank stated well into next year before figures emerge


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## PJDCol (23 Oct 2017)

Yeah did they say which Christmas?

That's how much faith I have


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## MsBinky (23 Oct 2017)

With respect,  neither UB or KBC could pull one figure of any type with certainty out of any hats while appearing before the committee. 

This debacle needs the media banging away, keeping the pressure up on bsnks, government etc but raising hope for Christmas without substance is unfair to those who have been dangled for long now. People have been through enough .


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## PJDCol (23 Oct 2017)

I totally agree. Making statements like with no fact or figures for any bank just makes things worse. Especially for the majority of people who probably won't even be contacted never mind anything else. KBC have told me on Friday I will hear nothing for months so I doubt today will make one inch of a difference.


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## SaySomething (23 Oct 2017)

The language here is the important part. What he actually said in the Irish Times piece linked above was: 

_We think the vast majority of those cases will be paid out before Christmas_​
We are not dumb. Nearly a year ago Ulster Bank asserted they would contact the vast majority of identified customers before Christmas. We now know less than a quarter were contacted in that timeframe. 

In 2016, the banks were expected to complete Phase 2 by September 2016. Yet here we are. 

No faith whatsoever in any of the processes or systems put in place to “protect” us as consumers. This is all optics.


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## MsBinky (23 Oct 2017)

Just wondering saysomething , why would Lane or more particularly,  the CB be interested in optics? 

When it doesn't happen and unfortunately I don't think that it will, won't they just look like they really don't have a handle on this?


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## Banking17 (23 Oct 2017)

Have just been on to Fine Gael HQ and Finance Department.

Suggest we should email Ministers office with summary position overall and our individual Bank scenario. They seem interested in knowing real situations.

Email minister@finance.gov.ie


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## Milo4444 (23 Oct 2017)

Former FA now UB just emailed my situation too.


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## ryflava (23 Oct 2017)

Did u just decide yourself to contact them?? Or was it suggested by someone to do it?? Maybe the more of us that do that, the better??


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## Wonder (23 Oct 2017)

Just email them I strongly feel they the government don't fully understand what they are dealing with in courage all to do the say


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## marchflowers (23 Oct 2017)

I emailed every member of the Dail 

http://www.oireachtas.ie/parliament/contact/

Probably slight overkill but hey, this issue is never going to be as front and centre as it is now, so lets all make the most of it. Tell them your story, include the impact it has had on you and your family. A lot of these people probably don't know the nitty gritty, and they aint going to hear it from anyone but us...


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## Duke of Marmalade (23 Oct 2017)

Jayz, this one has really hit the fan

It seems there are some "victims" contributing above.  Can one of you give a short summary of what happened to you, thanks.


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## SaySomething (23 Oct 2017)

Duke of Marmalade said:


> Jayz, this one has really hit the fan
> 
> It seems there are some "victims" contributing above.  Can one of you give a short summary of what happened to you, thanks.


What exactly do you mean by "victims"? There's plenty of information on the tracker examination on this forum to read through!


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## Banking17 (23 Oct 2017)

P Kissane RTE  T V News news 2 minutes 6.30


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## LadyHB (23 Oct 2017)

I emailed every member of FG at the weekend. I also emailed the key members of the Oireachtas Finance Committee (mainly to thank them). And couriered letters this AM to Derville Rowland in the CB (with copies of documents) and to Francesca McDonagh new CEO of BOI to set out the details of my case. Exhausted from it. It’s draining but glad I did it. 

I don’t feel confident about the Christmas deadline. Where there’s disagreement about impacted cohorts (which I’m guessing is where I sit), I think it’s going to continue to be a long process.


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## Onceagain (23 Oct 2017)

I know lots BOI customers/staff doing the same, keep the momentum going.


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## Banking17 (25 Oct 2017)

PJDCol said:


> Yeah did they say which Christmas?
> 
> That's how much faith I have



We now see today how wrong and misguided Prof Lane was is his rushed comments earlier this week. Christmas 2018 more appropriate.


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## Omega143 (25 Oct 2017)

Keep the calls and letters going .


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