Central Bank ‘failed in duty’ over tracker mortgage

The Central Bank has been accused of a “dereliction of duty” after advising customers in dispute with banks over the tracker mortgage scandal to contact the financial services ombudsman or take legal proceedings themselves — despite believing the banks in question are in the wrong.

Governor Philip Lane told the Oireachtas finance committee that he expects to see more people affected than the 23 previously confirmed to have lost their homes because of the scandal, with 79 more buy-to-lets lost.

Mr Lane said 13,000 customers have been confirmed to be wronged, up from 9,900 it confirmed in March — adding that he expects the number to grow.