Central Bank ‘very satisfied’ with handling of tracker mortgage scandal

Regulator’s financial conduct head is confident it discharged its public accountability mandate and enforcement of cases

Derville Rowland, director general, financial conduct at the Central Bank of Ireland: ‘Whether others wish to hold a public inquiry is a matter for them.’ Picture: RollingNews

The Central Bank of Ireland (CBI) has defended its handling of the country’s tracker mortgage scandal despite uncovering a near two-decade period of customer mistreatment by AIB which continued for years after it began investigating the lender.

The regulator last week hit the AIB Group with a record €96.7 million fine for its role in the industry-wide overcharging scandal through which almost 13,000 AIB and EBS customers were wrongly denied cheap tracker mortgages.

Its investigation ...