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
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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Tom Maguire: Tax changes we make now could help business for years
The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures