Central Bank continues tracker examination

22nd January, 2017
Bernard Sheridan, director of consumer protection

Approximately 8,200 accounts have been identified by the Central Bank’s ‘Tracker Mortgage Examination’, where a right to, or the option of a tracker rate of interest and/or the correct tracker rate of interest was not provided to customers.

When groups of customers affected by the issue are identified, the lender must stop charging the incorrect rate of interest on the customer’s account and communicate the correct rate to apply to the...

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