Thursday 22 March 2018

Central Bank begins probe to see if banks 'wrongly took tracker mortgages from customers'

The Central Bank
The Central Bank
Charlie Weston

Charlie Weston

The Central Bank has begun a review into all banks to see if they wrongly took tracker mortgages from customers.

The new probe comes in the wake of serious mistakes unearthed at Permanent TSB in August which cost 22 people their homes.

Permanent TSB is being forced to restore trackers to almost 1,400 of its customers and pay them compensation.

The Permanent TSB admission of wrongdoing had prompted widespread calls for an investigation into all banks.

Now the Central Bank has relented and said it was to begin a broad examination of tracker mortgage issues across all lenders. 

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