Minister to force banks to pay compo; Government to up pressure over tracker mortgage scandal

Finance Minister Paschal Donohoe is to bring forward a range of measures tomorrow aimed at forcing banks to fully compensate thousands of customers wrongfully removed from their tracker mortgages.

While Central Bank governor Philip Lane said those affected will be repaid and compensated by Christmas time, the Government is not convinced and is to increase pressure on the banks to resolve the scandal.

At a Cabinet meeting last night, Mr Donohoe made it clear that the previously “deferential” attitude towards the banks is at an end. He will make a major announcement tomorrow, several ministers confirmed.