€647 million has so far been paid out in redress and compensation as a result of the tracker mortgage scandal. A Central Bank examination of two million mortgages has found a further 1,400 homeowners were affected. It also says 39,800 customers were either denied a tracker rate or charged the wrong rate of interest. Derville Rowland, Director General for Financial Conduct at the Central Bank, says they will continue to put pressure on the banks until all affected customers have been identified. "They must have a customer-centric view and be able to demonstrate that by the outcomes they deliver for their customers.

Source: Irish Examiner February 04, 2019 14:03 UTC