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Sunday 26 March 2023 Dublin: 8°C

# Finance committee

Last week
19th March 2023 - 25th March 2023
# Finance committee
Over 80 people have received debt write-downs of more than €1 million from AIB since 2015
AIB denied having a ‘special’ debt write-down policy for high-profile people.
This month
March 2023
# Finance committee
Homeowners with €6,000 owed on mortgage given repossession orders, committee told
An Oireachtas committee was told non-banking entities own more than 56% of all domestic mortgages in arrears.
Last month
February 2023
# Debt write-offs
AIB execs agree to face TDs next week to answer questions about controversial debt write-downs
The bank will attend a public meeting on Thursday, 2 March.
# debt settled
TDs set to haul AIB before Finance Committee after DJ Carey debt revelations
Taoiseach Leo Varadkar said that the bank could explain their approach for carrying out writedowns at the committee.
Fine Gael calls for AIB to appear before committee over writedown of DJ Carey debt
It has been reprted that the former hurler and businessman had a debt of over €9.5 million written down to €60,000.
# Finance committee
Ulster Bank to freeze 2,000 active accounts after 'last attempt' to engage with customers
Ulster Bank and KBC appeared before the Oireachtas finance committee today.
This year
# Gabriel Makhlouf
Central Bank governor says cost of living increases have resulted in 'erosion of living standards'
Gabriel Makhlouf was speaking before the Oireachtas Committee on Finance, Public Expenditure and Reform this afternoon.
Last year
# Banking
Finance Committee hears update from KBC and Ulster Bank ahead of market withdrawal
Ulster Bank told the committee that around 1,000 accounts are currently on track to be frozen from 11 November.
# Finance committee
AIB to appear before Finance Committee over decision to go cashless at 70 branches
Fianna Fáil’s John McGuinness said that the provisional date for their appearance was 3 August.
All time
# lotto questions
Lotto reps to appear before Oireachtas committee as jackpot goes unclaimed again
There have been 53 Lotto draws since the jackpot prize was last won.
# Vulture funds
Mortgage-holders caught up in PTSB loan sale to be invited to tell of the turmoil it has caused
Sinn Féin’s finance spokesperson Pearse Doherty said a full committee session should be dedicated to the loan book sale.
# Overcharging
18,000 overcharged business accounts: Ulster Bank admits some customers complained five years ago
In a recent review the bank found it did not have the right five years ago to raise the rate of interest for for these customers.
# vultures
Even PTSB customers who are meeting revised loan terms will have mortgages sold to vulture funds
Executives blamed the European regulator for the classification of these loans as non-performing.
# Tracker Scandal
'Take a look in the mirror': Why didn't the Central Bank act earlier on the tracker mortgage scandal?
The Central Bank’s governor Philip Lane confirmed 13,000 impacted customers are still waiting to get their money back.
# Tracker Scandal
Minister willing to bring in new laws to punish reckless behaviour of senior bankers
Paschal Donohoe was speaking to the Finance Committee today about the tracker mortgage scandal.
# banking breaches
'Shocking': Central Bank governor meets whistleblower Jonathan Sugarman over bank probe
McGuinness said it’s “extraordinary” the Central Bank did not speak to the whistleblower who reported the breaches in Unicredit bank.
# sparkasse
How Germany's public banking model could make Ireland's sector more customer-friendly
Sparkasse is the largest banking group – and therefore market leader – in Germany.
# regulation
'A dog who won't bark, never mind bite': Central Bank in the firing line over tracker scandal
More than 20,000 people were impacted by the scandal and numbers are likely to rise.
# Philip Lane
Gardaí consulted on tracker-mortgage scandal - no reports made yet
It’s still unknown what rebates are in store for those that lost out because of the tracker mortgage issue.
# Philip Lane
Help-to-buy scheme is 'of course' pushing up house prices - Central Bank
The Central Bank governor said that the market could correct itself in the long term.
# Not happy
Led by Jackie Lavin, around 60 Irish businesses want compensation from Ulster Bank
Jackie Lavin is to appear before the Oireachtas Finance Committee today.
# They Did It
Ireland's legal profession just pointed the finger firmly at insurers when it comes to spiralling motor insurance costs
The Oireachtas finance committee has been hearing from all sides in the motor insurance dispute today.
# smooth talker
'We'll cut them again in a month or two' - AIB chief on mortgage rates
David Duffy was in front of the Oireachtas Finance Committee today, although it didn’t seem like too much of an ordeal for him…
# no winning numbers
The new Lotto operators are accused of making 'savings and shavings' on the draw
The National Lottery’s reputation is at stake after last month’s first-ever failure.
# The Governator
The Central Bank's chief seems to have gone cold on relaxing its new mortgage rules
Governor Patrick Honohan says the “seeds of trouble” for a new bubble could already be growing.
# payback time
AIB will return the €21bn taxpayers pumped into it, but don't hold your breath on when
Here’s what the bank’s chief would reveal today about how long that will take…
# getting screwed
Why does Ulster Bank charge Irish customers much higher mortgage rates than those in NI?
The bank’s boss has been accused of “screwing” customers to pay for its bad decisions.
# Back in black
Permanent TSB should turn a profit sooner - but don't expect cheaper mortgages
The bank’s boss said its lending costs were still higher than those of bigger competitors.
Opinion: How can we make the budgeting process fairer and more democratic?
Drafting a budget, or any form of legislation, will always be a difficult and divisive task but there are ways of listening to all sections of society in the process.
# Closing Time
More than 1,000 Irish pubs have had to shut down since 2007
And it’s all about tax, say industry chiefs.
# Kick in the arrears
We could be repaying our mortgages into retirement - the verdict on the arrears crisis
The Finance Committee’s report on mortgage arrears is in – here’s what they say.
# Not good enough
Finance Committee tells Central Bank: legal letters to crisis mortgages aren't 'sustainable'
A draft copy of the committee’s report on mortgage arrears seen by contains strong words for the Central Bank.
# Hardball
Stop paying your mortgage. Don't leave your home - new advice from the IMHO
The IMHO is playing hardball, and will today launch a controversial ‘no surrender’ policy on debt solutions.
# No clean break
Chief whip accuses exiting banks of 'slash and burn'
Government Seanad chief whip says that foreign banks are damaging the economy.
# Debt
Richie Boucher defends €843,000 pay, says BOI is 'comfortable'
Bank of Ireland officials told the finance committee that they would veto any suggestion of debt write-down made by a Personal Insolvency Practitioner.
# Debt
AIB explains why its home repossessions tripled last year
The bank is currently engaged in 9,000 legal or potential legal cases with customers in mortgage arrears.
# Banking Inquiry
Banking inquiry could be up and running within ‘four to five months’
The make up of the new committee both in terms of size and who will sit on it has yet to be decided.
# D-Day
Concerns over change in pay-and-file tax deadline
There are proposals to bring the pay-and-file date forward to as early as June next year so the Department of Finance has all the data needed ahead of the October Budget.
# Banking Inquiry
Oireachtas committees fight for right to hold banking inquiry
The public accounts committee last year produced a framework for the inquiry and wants to stop the finance committee from taking control of the probe.
# Anglo Tapes
Anglo Tapes: “No smoking gun” says Central Bank boss
Governor Patrick Honohan says its not the Central Bank’s job to trawl through the tapes to look for evidence and that ‘we’re not going to get any more money out of Anglo’ in any case.