TD urges banks to be 'more compassionate'
Banks need to be “more compassionate” in dealing with distressed borrowers because of cases of suicides where people are under severe financial pressure, the Dáil has heard.
Fianna Fáil finance spokesman Michael McGrath said a number of cases had been brought to his attention which “are very disturbing and are sinister”. The Cork South Central TD said banks “are putting incredible pressure on individuals and families where in many cases there is a genuine inability to pay”.
He was speaking during a debate on extending elements of the Credit Institutions (Stabilisation) Act until 2014.
The Act gives the Minister for Finance extensive powers in the restructuring and recapitalisation of banks in agreement with the troika.