Questions the Central Bank needs to answer on tracker mortgages

How badly have the banks behaved? Could it happen again?

The Central Bank in Dublin. File photograph: Matt Kavanagh

The Central Bank in Dublin. File photograph: Matt Kavanagh

 

A Central Bank report this week revealed the number of customers overcharged across the industry, through forcing people off tracker mortgages or not offering people favourable rates, could be as high as 20,000.

The following is a list of questions the regulator should answer about the scandal that could have cost homeowners up to €80,000 each.

1. Why is it taking so long to fix?

2. Should the banks be doing more, and faster?

3. Has every victim been told they were overcharged?

4. If not, how many are still in the dark?

5. How badly have the banks behaved?

6. Has it been criminal conduct?

7. Should the Garda investigate?

8. Has the bank’s conduct got any better?

9. If not, what should they do now?

10. Is any bank better than the others in fixing the scandal?

11. Will anyone ever be made accountable?

12. Should more have been done before 2015?

13. Does the Central Bank believe it has sufficient powers to deal with the scandal?

14. Could it happen again?

15. If so, what must be done to ensure that it does not?

16. When will this finally be fixed?

17. Will the banks be punished? Is so, how? If not, why?