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Kerry financial advisor says banks knew Irish people would feel shame by not repaying mortgages

Sep 29, 2022 13:09 By radiokerrynews
Kerry financial advisor says banks knew Irish people would feel shame by not repaying mortgages Kerry financial advisor says banks knew Irish people would feel shame by not repaying mortgages
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A Kerry financial advisor says banks used our Irishness against us, as they knew the shame people would feel by not repaying their mortgage.

Pádraic Kissane of Kissane Financial Services was speaking after the Central Bank fined Bank of Ireland over €100 million for breaches affecting tracker mortgage customers.

The fine was issued in respect of 15,900 tracker mortgage accounts, impacted between August 2004 and June 2022.

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It's the largest fine imposed to date by the Central Bank.

In June of this year, the Central Bank issued a €96.7 million fine to AIB and EBS for their part in the scandal.

Mr Kissane, who’s from Lisselton, says what the banks did was appalling:

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Pádraic Kissane says despite the fines issued to Bank of Ireland, AIB and EBS, there’s no real way to hold those personally responsible to account.

Mr Kissane says the powers of the Central Bank were restricted in terms of identifying individuals.

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The Lisselton man says the people involved at the time have since moved on:

 

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