‘Ethical’ sale of distressed mortgages
Sir, – I was very interested to read “AIB is selling up to 650 distressed mortgages as a part ‘ethical’ loan sale, the first of its kind undertaken by a lender in the Republic, in the coming days” (Business, January 16th).
Are we to understand from this that hitherto sales of loans by Irish financial institutions have been part of “unethical” loan sales? If so, maybe this would be something that the Irish Banking and Culture Board can get its teeth into immediately. – Yours, etc,