Central Bank to assess ‘culture and behaviour’ in banks from April

Move comes following tracker scandal after which at least 97 customers lost a property

Some 33 customers of KBC Bank lost a property as a result of being denied a tracker mortgage. Photograph: Bryan O’Brien

Some 33 customers of KBC Bank lost a property as a result of being denied a tracker mortgage. Photograph: Bryan O’Brien

The Central Bank will assess the culture and behaviour of the Republic’s five main lenders as requested by the Minister for Finance following the tracker mortgage scandal.

Starting in April, the bank regulator will “challenge the effectiveness of the underlying culture in banks” including AIB, Bank of Ireland, Ulster Bank, Permanent TSB (PTSB) and KBC, after which it will report findings to the Minister.

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