Explainer: The tracker mortgage scandal — who has been fined?

It is estimated that around 40,000 customers were wrongly removed from their tracker mortgages and moved onto a higher interest rate. In many instances, people lost their homes due to the scandal.

The five main banks that were involved in the Irish tracker mortgage scandal are AIB, KBC, Permanent TSB, Bank of Ireland, and Ulster Bank. Picture: Leah Farrell/RollingNews.ie

The fine handed to AIB by the Central Bank for its involvement in the tracker mortgage scandal is not the first, but so far, it is the biggest.

The latest fine, which totalled €96.7m with the inclusion of €13.4m that was given to AIB-owned EBS for its consumer-protection breaches during the tracker mortgage scandal, is the largest fine given by the Central Bank during investigation into tracker mortgage accounts.