Central Bank fines Ulster Bank €4.6m over mortgage arrears

The Central Bank has slapped a €4.6m fine on Ulster Bank over its failure to compile and submit statistics under a former mortgage arrears agreement.

It is the fourth time the lender has faced an enforcement issue with the regulator, with previous governance issues including failings to follow money laundering and terrorist financing rules, IT governance failures, and breaches of liquidity and capital requirements, the Central Bank said. Separately, Ulster Bank is waiting for a decision over a potential fine relating to the tracker mortgage scandal.