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Central Bank Report on Tracker Mortgage Investigation: BPFI Statement

Niall Faherty

Noting publication today of the Central Bank’s final report on its tracker mortgage investigation, BPFI’s CEO, Brian Hayes, stated:

 “The tracker mortgage scandal represents a shameful chapter in Irish banking which caused great distress and financial damage to many bank customers.  We welcome the conclusion of this element of the Central Bank’s work, while its enforcement actions against offending banks remain to be concluded.”

 “The future of banking in Ireland must be about the highest possible standards of behaviour and professionalism. What’s important now are actions rather than words.  Delivering a change in culture in order to achieve better outcomes for bank customers, bank staff and society as a whole is the absolute priority.” 

 The Irish banking industry is focused on concrete outcomes over the coming months in addition to various initiatives already underway across our member banks.  These will include a number of new initiatives of our own, our supporting the work of the Irish Banking Culture Board and working with the Central Bank on the new Senior Executive Accountability Regime.”

 “Rebuilding trust and reputation in Ireland’s banking sector is a challenge that the industry fully recognises. We are determined to fix the problems.”

 

 

Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Contact: Jillian Heffernan, Head of Communications, 087 9016880 or jillian.heffernan@bpfi.ie

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