'Who's protecting consumers?' - Banks' 'paltry' fine over tracker scandal cost lives - News Summed Up

'Who's protecting consumers?' - Banks' 'paltry' fine over tracker scandal cost lives


The record €96 million fine for AIB and EBS over the tracker mortgage scandal is “paltry” in the context of the lives lost and affected by what the banks did, leading politicians have said. “In the context of the number of lives lost and affected by the tracker scandal, this fine is paltry,” he said. Where stands the European Central Bank?” he saidWho is protecting the consumers, because it isn’t the Central Bank. The Central Bank determined the appropriate fine to be €119m, which was reduced by 30% to €83.3m in accordance with the settlement discount scheme provided for in the Central Bank. A Central Bank report in 2019 found that 99 people had lost their homes, while 216 lost a buy-to-let property.


Source: Irish Examiner June 24, 2022 02:29 UTC



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