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Tuesday 30 May 2023 Dublin: 11°C

# Banks

All time
# Lending
Drop of nearly 10% in mortgage approvals in March compared to 2019
The figures offer an early indication of the impact of Covid-19 on lending.
# Coronavirus
Covid-19 mortgage break to be extended from three months to six
All of the country’s main banks are participating in the break.
# bpfi
Banks say that people who got mortgage approval before the crisis can have this extended
Customers can be granted an extension in situations where their “circumstances have not materially changed”.
# Covid-19
Banks to offer three-month mortgage break to customers affected by coronavirus outbreak
Banks will also defer court proceedings for three months.
# mortgage payments
Paschal Donohoe to meet with five main banks about coronavirus plans
AIB, Bank of Ireland, KBC, Permanent TSB and Ulster Bank will meet Department of Finance officials at 4pm.
# covid19
Minister says three pillar banks 'will support businesses' through coronavirus crisis
Heather Humphreys said there will be emergency working capital and payment flexibility on borrowings.
# Banks
AIB setting aside €300 million redress for 'previously identified' tracker mortgage victims
The Central Bank said last year that lenders had already paid €683 million in redress to impacted customers.
# Future of finance
From apps to taps: Where Ireland sits in the march toward a cashless society
Early adoption is led by the Nordics and Asia as infrastructure and societal acceptance plays catch up.
# Derry
Banks given 'free pass' by this government, SF Ard Fheis told
The Sinn Féin Ard Fheis kicked off in Derry today.
# crackdown
New Central Bank rules to stop brokers accepting free golf trips and sports tickets from banks
From March next year, brokers and financial adviser will also have to publish details of commissions they receive on their websites.
# leo in the us
Taoiseach urged to tell banks to stop investing in fossil fuels during his UN speech in New York
Varadkar will attend the UN General Assembly and address the summit on sustainable development goals.
# tracker mortgage scandal
KBC Bank admits it used time limit clause in 27 tracker complaints to Ombudsman
A number of banks, including KBC, reversed their decision to challenge the investigation of these complaints after a public rebuke by the ombudsman.
# Tracker Scandal
Banks use time limit to challenge tracker mortgage complaints to Ombudsman
Ombudsman Ger Deering said up to 500 customers could be affected by these challenges.
# Banks
Acting Central Bank governor says bankers' pay caps 'may limit the pool of candidates for senior positions'
The finance minister is currently considering a report which reviewed whether bankers’ pay should be increased.
# Tracker Mortgage
Banks offer average of €194,000 to people who lost homes due to tracker mortgage scandal
There were 99 homes lost as a result of lenders’ failings as well as 216 buy-to-let properties.
# homeoptions
'It's a no-brainer': New not-for-profit company aims to keep distressed borrowers in their homes
Homeoptions is offering itself as an alternative to vulture funds and said it is already engaging with one bank in relation to a home loan portfolio.
# mortgage sale
Ulster Bank sells off nearly 4,000 of its customers in massive family home loan book sale
90% of the loans due to be sold are family homes – about 3,200 accounts.
# Bankers
More banks to face fines over tracker mortgage scandal as officials coy about revealing cost details
Ulster Bank recently told an Oireachtas Finance committee that it will not be disclosing the amount of money it has set aside to deal with the fine.
# Tracker Scandal
'Unacceptable harm': The scandal that led to a record fine for one of Ireland's pillar banks
Permanent TSB has been fined €21 million for regulatory breaches affecting tracker mortgage customers.
# Vulture funds
Taoiseach says he didn’t realise his mortgage could be sold on by his bank when he took it out in 2003
In an interview with TheJournal.ie this week, the Taoiseach said he understood the intent behind Sinn Féin’s No Consent No Sale Bill.
# Vulture funds
Concerns over letters sent to mortgage-holders demanding full payment of arrears within 30 days
The Central Bank is aware that a regulated entity has written to a number of buy-to-let borrowers in arrears.
New AIB boss wants performance-based bonus ban lifted for bankers as staff are being enticed to competitors
Following the banking crash, a government policy on bonuses was rolled out for State-owned banks.
# Banks
Finance Minister says he wouldn't mind if his mortgage was held by a vulture fund
The minister said the Sinn Fein Bill to give mortgage holders the power to block the sale of their loans to vulture funds is unconstitutional.
# Mortgage Holders
Any tax loopholes used by vulture funds won't be closed down until the autumn, says Taoiseach
Last year, the Taoiseach vowed to close a loophole which allowed a €1.3 billion mortgage ‘vehicle’ from paying tax.
# tax loophole
High Court Master says case could be taken against Ireland over special tax treatment given to vulture funds
Edmund Honohan has said there are many similarities to be drawn with the Apple case being taken.
Taoiseach told that 'banks are as aggressive and as arrogant as the time of the crash'
Fianna Fáil TD John McGuinness told the Taoiseach that people are crying out for help.
# Tracker Mortgage
Banks pay out €647 million to victims of tracker mortgage scandal
The number of people affected by the overcharging scandal has now risen to almost 40,000.
# Great Irish Sell Off
Bill which aims to force banks to ask for permission before selling mortgages to vulture funds passes in the Dáil
The Bill puts into law what already exists at the moment as a voluntary Central Bank code
# dragging their heels
'History will judge this': Experts see little change in bank culture after scandals and protests
People who are working every day with customers in arrears say lenders are still refusing to cooperate in any significant way.
# fair mortgage bill
'It's your job to call the vulture funds out': High Court Master pens letter to Micheál Martin
Edmund Honohan urged the Fianna Fáil leader to support a piece of legislation he wrote that is currently before the Dáil.
# Explainer
Credit unions are to be given more freedom to compete with moneylenders, so what would this mean?
It could mean they can offer small loans to people who otherwise mightn’t get credit.
# Save Money
New rules making it easier to switch your mortgage kick in from today
Lenders will now have to tell customers 60 days before their fixed term ends and let them know about new rates and other options.
# sell off
Varadkar says he's reluctant to use the term 'vulture fund' to describe firms that have bought up Irish mortgages
Varadkar says he tried to remove split mortgage-holders from recent loan book sales but failed to do so.
# great sell off
SF proposes new law to prevent mortgages being sold to a vulture fund without the borrower's consent
Doherty said his proposed Bill will ensure the code is put into primary legislation.
# Great Irish Sell Off
No vulture fund or bank has ever been sanctioned for breaching the code of conduct
The Central Bank said no sanctions have been put in place since the Code of Conduct on Mortgage Arrears commencement in 2009.
# Mortgage Arrears
Central Bank to track a 'critical mass' of restructured mortgages that are due to come up for review
Finance Minister Paschal Donohoe said there will be no change to the code of conduct, as it is working effectively.
# customer treatment
Number affected by tracker mortgage scandal rises - it's now over 38,000
The Central Bank governor says a review of the scandal raises serious concerns about current Irish banking culture.
# property ladder
Over 4,000 mortgages approved last month, with lots of people switching
The almost 45,000 mortgages approved in the last 12 months are valued at €9.9 billion.
# cash is king
Bank of Ireland reverses decision to stop all-day cash services in over 100 branches
Earlier this year, the bank announced that around 100 branches across the country would have cash services for half days only.
# where's paschal?
'We own some of the banks, but we don't run the banks': Minister says government can't stop vulture fund sales
Questions have been mounting as to where Finance Minister Paschal Donohoe is in the midst of this summer’s vulture fund sell off.