Monday December 9, 2019

Central Bank hits PTSB with record fine over tracker scandal

The €21 million fine is the largest ever handed out by the regulator - and it would have been €30 million, but the bank received a 30 per cent discount under Central Bank rules

Ian Guider

Markets Editor

@ianguider
30th May, 2019
Regulator found 42 separate breaches of rules by PTSB. Pic: Getty

In a statement today, the Central Bank said Permanent TSB admitted 42 separate breaches of its rules between August 2004 and October 2018 in relation to how customers who held tracker mortgages were dealt with.

The regulator found that just over 2,000 customers were affected by the bank’s failings and it caused unacceptable harm to customers, with a significant period of overcharging customers leading to 12 family homes being lost. The bank has already paid close to €55...

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