Bank of Ireland customers affected by tracker mortgage scandal to get up to €137m in total

Bank of Ireland is set to fork out more than €137m in compensation to those affected by the tracker mortgage scandal.

It has offered redress to 99% of customers affected by the controversy and is having difficulty in finding the rest.

The tracker mortgage scandal resulted in thousands of customers in the country’s banks being overcharged by lenders.

Bank of Ireland’s CEO Francesca McDonagh has been appearing before the Oireachtas Finance Committee.

She said: "I unreservedly apologise to all impacted customers for the financial loss and anxiety this has caused them and their families, and I do so again today.

"Affected customers have been offered redress and compensation of over €137m, with approximately 90% of this, more than €123m, paid so far."

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