The investigation into the tracker mortgage scandal has been underway since 2015 and the broad scale of what happened has gradually become clear. The Central Bank was slow off the mark in starting a full-scale examination, but has done a good job in pushing the banks to do the right thing by their customers. That this occurred due to conscious decisions taken by all main banks must also be considered. As the report says, banks say they are focused on their customers but the evidence suggests otherwise. It is a sad commentary on the behaviour of the banks that this is seen as necessary – but it surely is.

Source: The Irish Times July 16, 2019 16:30 UTC