Image: Sasko Lazarov/Photocall Ireland Image: Sasko Lazarov/Photocall Ireland PERMANENT TSB HAS been reprimanded and fined a record €21 million by the Central Bank for regulatory breaches affecting tracker mortgage customers.
This figure reflects a gross fine of €30,000,000 reduced by 30% to €21,000,000 in accordance with the early settlement discount scheme provided for in the Central Bank of Ireland’s Administrative Sanctions Procedure. The tracker mortgage controversy saw customers being overcharged by their lenders when they were either denied a tracker rate they were entitled to, or charged the wrong rate of interest on their mortgage.
According to the Central Bank, PTSB has admitted in full to 42 separate regulatory breaches of the Code of Practice for Credit Institutions 2001 and the Consumer Protection Codes 2006 and 2012.The Central Bank’s Director of Enforcement and Anti-Money Laundering, Seána Cunningham, said that the investigation into PTSB found that they had “failed to put their customers first, with distressing and, in some instances, devastating consequences”.
Are they gonna give the €21mill to the customers
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Source: IrishTimes - 🏆 3. / 98 Read more »