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

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."

More on this topic

KBC chief to apologise for comments on tracker mortgage scandalKBC chief to apologise for comments on tracker mortgage scandal

KBC will not challenge time limits on tracker mortgage complaintsKBC will not challenge time limits on tracker mortgage complaints

Tracker Mortgage Scandal: Hundreds may find their complaints judged out of date Tracker Mortgage Scandal: Hundreds may find their complaints judged out of date

Concerns raised about bank timelines for tracker mortgage scandal Concerns raised about bank timelines for tracker mortgage scandal


More in this Section

Insolvency practitioner ordered to pay two thirds of his fee in costs after giving misleading information about client's incomeInsolvency practitioner ordered to pay two thirds of his fee in costs after giving misleading information about client's income

Sinn Féin manifesto spending plan would ‘destroy jobs,’ says Micheál MartinSinn Féin manifesto spending plan would ‘destroy jobs,’ says Micheál Martin

Greyhound track protestors 'delighted with outcome' as they reach settlement with Shelbourne ParkGreyhound track protestors 'delighted with outcome' as they reach settlement with Shelbourne Park

Conor McGregor escapes prosecution for motoring offencesConor McGregor escapes prosecution for motoring offences


Lifestyle

They’re still a fairly new phenomenon on the interiors scene, but the growing popularity of listening to podcasts has provided us with an easy-to-access source of ideas and advice, writes Carol O’Callaghan.Listen and learn: How podcasts can help you source cool interiors ideas

Live your cheese dream for one night only.Video: The world’s first cheese hotel has opened its doors

For Galway-based nature lover and grandmother, Marion Edler-Burke, forest-walking is balm for the soul.Parents for the Planet: It’s revitalising to see the wood and the trees

Working outside in your front garden can help people meet and encourage neighbours to become friends, says Hannah Stephenson.How your garden can help you make new friends

More From The Irish Examiner