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No action on over-charging banks until after election

The Tánaiste has suggested that no penal action will be taken against banks who overcharge their mor...
TodayFM
TodayFM

2:34 PM - 26 Nov 2015



No action on over-charging ban...

News

No action on over-charging banks until after election

TodayFM
TodayFM

2:34 PM - 26 Nov 2015



The Tánaiste has suggested that no penal action will be taken against banks who overcharge their mortgage customers, until the New Year.

Joan Burton told the Dáil that no action would be taken until after the Central Bank issues a report on the subject next month.

It follows a documentary earlier this week in which it was claimed that some mortgage customers are still being overcharged, despite a previous apology from banks over their conduct.

Earlier this year Permanent TSB apologised to over a thousand customers who had been unfairly denied the right to go back onto a tracker mortgage at the end of an introductory period.

At the time, the bank's CEO Jeremy Masding promised that the bank would seek to undo all unfair measures taken, so that customers would not be left out of pocket for the bank's actions.

But an RTE documentary showed that customers being returned to tracker mortgages are now being subjected to high margins on their tracker mortgages - far higher than those available to others.

Our political correspondent Gavan Reilly filed this report for Today FM's National Lunchtime News;



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