Latest: Paschal Donohoe not satisfied with what he has heard from banks on tracker scandal

Update 4.19pm: The Minister for Finance says he is not satisfied with what he has heard from the five banks he met over the last two days on the tracker mortgage scandal.

Paschal Donohoe has updated the Dáil in the last hour and says he will engage further with the banks in the next 24-hours before making a statement to the house tomorrow evening.

Bank CEOs leaving the Department of Finance earlier refused to say what deadlines or demands the Minister had laid down.

Minister Donohoe says the banks have acted disgracefully.

"What I'm aware of is the hurt that has been caused to citizens in our state," said the Finance Minister.

"Too many people are waiting for their money back. Too much confusion still exists regarding where this issue stands.

"In the engagement that I have had with the banks, I have made clear to them that this is a disgrace. It should have been resolved by now."

Update 3.07pm: Government: Gardaí will take appropriate action if crime has been committed in tracker scandal

The government says the Gardaí will take appropriate action if a crime has been committed in the tracker mortgage scandal.

The issue of trackers has dominated proceedings in the Dáil this afternoon where Simon Coveney was taking leader's questions in place of the Taoiseach.

Earlier the chief executives of Ulster Bank and AIB apologised to their customers over the scandal.

Minister Coveney says the government's meetings with the banks are not just for show.

"The Central Bank is engaging with other statutory bodies in relation to the tracker mortgage examination, including An Garda Síochána, and they will take the appropriate action," said Mr Coveney.

Simon Coveney
Simon Coveney

"And I can assure the Minister for Finance was not mincing his words yesterday when he briefed Cabinet on this issue.

"This is not going to be a case of a number of days of grandstanding."

At a Cabinet meeting last night, Finance Minister Paschal Donohoe made it clear that the previously “deferential” attitude towards the banks is at an end.

Update - 11.35am: Latest: AIB CEO apologises to tracker customers but disputes group of 100 are on wrong rate

The Chief Executive of AIB has apologised to customers affected by the bank wrongly taking them off tracker mortgages.

Bernard Byrne made the comments as he left a meeting with the Minister for Finance Paschal Donohoe.

AIB removed 3,200 customers from trackers and to date 3,100 have returned to the rates, but the bank disputes another group of customers are on the wrong rate.

Mr Byrne would not disclose if Mr Donohoe asked for fresh action and said he will make a full statement tomorrow.

He said: "We have apologised several times before and I've apologised again for what has happened with respect to tracker customers.

Allied Irish Bank Chief Executive, Bernard Byrne, arriving at the Department of Finance after being called over the tracker mortgage scandal. Pic: RollingNews.ie
Allied Irish Bank Chief Executive, Bernard Byrne, arriving at the Department of Finance after being called over the tracker mortgage scandal. Pic: RollingNews.ie

"We listened to what the Minister had to say and we are going to make a fuller statement tomorrow in respect of that.

"For the moment what we are able to confirm is that we are fully committed to working in line with the framework that exists and we are confident we will be able to make significant progress again."

Earlier: Ulster Bank and AIB are the latest mortgage-lenders to face questions over the tracker mortgage scandal.

Ulster Bank's exectutives are set to meet with Finance Minister, Pascal Donoghue later today.

Delegations from Bank of Ireland, KBC and Permanent TSB met Mr Donoghue yesterday.

Amid growing public anger, they are being asked to explain how they are dealing with the issue, and how they plan to compensate customers who were wrongly taken off tracker mortgages.

The Central Bank Governor Phillip Lane says he hopes the majority of those affected will be repaid by Christmas - but details of compensation have not been revealed.

Latest: Paschal Donohoe not satisfied with what he has heard from banks on tracker scandal

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