Task force to call for overhaul of banking conduct over debts

A GROUP tasked with advising the Government on how best to help people struggling with their mortgages is expected to call for an overhaul of the banking sector’s code of conduct when dealing with borrowers in arrears.

Finance Minister Brian Lenihan is expected to receive the mortgage arrears and personal debt group’s first interim report later this week, before presenting it to Cabinet.

A “menu of options” is being prepared for the Government on how to put together a bailout package for struggling homeowners, according to one finance source.