A financial advisor believes AIB ringfencing funds to compensate customers wrongly taken off tracker mortgages is premature.
Kerry man Padraic Kissane, who runs Kissane Financial Services in Dublin, says this is because the bank doesn’t know how many people are affected.
The Irish Examiner is reporting that AIB has set aside 190 million euro.
Over 3,000 were found to have been wrongly moved off tracker loans with 14 people losing their homes as a result of the error.
The Central Bank says up to 8,200 accounts across 15 lenders are estimated to have been impacted.
Padraic Kissane says the banks have resisted the process for as long as they can: