Tracker scandal may face garda probe; Banks accused of ‘cartel behaviour’

Gardaí could be asked to launch an investigation into the tracker mortgage scandal after the country’s biggest banks were accused of “cartel behaviour” and of committing “grand theft” against at least 20,000 customers.

The Central Bank revealed the Garda involvement as Taoiseach Leo Varadkar threatened banks with new laws, taxes, and penalties if they fail to compensate those affected within weeks.

Speaking before Finance Minister Paschal Donohoe holds crunch meetings with the banks on Monday and Wednesday, Central Bank officials said they have been co-operating with gardaí.