Ulster Bank signals jobs of 200 staff resolving tracker scandal at risk

Lender confirms its tracker-scandal numbers set to rise within weeks

Of the 3,500 cases currently acknowledged, Ulster Bank has commenced refunds and compensation in relation to 1,200.

Of the 3,500 cases currently acknowledged, Ulster Bank has commenced refunds and compensation in relation to 1,200.

Ulster Bank has signalled that 200 staff working on resolving the tracker-mortgage scandal are at risk of losing their jobs once a line is drawn under the matter.

Addressing the Oireachtas finance committee on Thursday, Ulster Bank chief financial officer Paul Stanley said “a number of those staff were at risk already of redundancy” but had been retained to help deal with the overcharging controversy, which boosted the bank’s income by up to €120 million over a decade. Some of the employees face redundancy at the end of the process, while others may work on “other issues” in the group, he said.

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