Banks face grilling on debt resolution

High-ranking bankers are to be called before a Dáil committee to explain why they have failed to get a grip on the mortgage crisis.

The Oireachtas finance committee is to start probing why progress has been so slow on providing sustainable debt solutions to families struggling in mortgage misery.

Committee chairman Ciarán Lynch expressed concern that major banks were not focusing on ways to ease the debt burden for their customers despite being more than five years into the financial crisis: “We will be calling the banks in and asking them to explain why they still need to be led on these issues, rather than taking the initiative themselves.