Legal action threatened over arrears code breaches
A leading mortgage arrears campaigner has threatened legal action against the Central Bank over what he says is its failure to enforce its own rules.
David Hall of the Irish Mortgage Holders Organisation says there is widespread abuse of the Bank's mortgage arrears code.
He is to seek a judicial review of the Central Bank to enforce the code. He has accused banks of refusing to recognise the authority of advisers who are engaged to act on behalf of clients.
Mr Hall claimed this practice is widespread, with banks writing and making offers directly to clients of his organisation and not even copying the offer to his organisation.
This is a clear breach of section eight of the Central Bank's code of conduct on mortgage arrears, he claims.
A spokeswoman for the Central Bank said it takes all allegations of breaches of the consumer protection codes seriously.