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Tuesday 6 June 2023 Dublin: 13°C


All time
# it error
Double mortgage payments taken from some Permanent TSB customers
It’s understood that around 300 customers were affected.
# tracker mortgages
Permanent TSB company fined €4.5 million for "serious failings" dealing with tracker mortgages
222 tracker mortgage customers were affected.
# Bankers
'The rage inside me was getting stronger': Ireland's top bankers face grilling on mortgages and repossessions
Three of Ireland’s top bankers were before an Oireachtas committee to talk about the state of Irish banking system.
# High Court
Six mortgage holders win compensation of up to €25k from PTSB
Permanent TSB admitted last year that it wrongly moved customers on tracker loans to more expensive mortgages.
# Finally
Did Noonan's warning work? More banks cut mortgage rates
Good news for some mortgage holders – depending on which bank they’re with.
# IOU lots of money
Will Permanent TSB be able to pay back its bailout cash after all?
The bank certainly seems to think so. And Michael Noonan too.
# Making Bank
Over 1,000 staff at AIB are on over €100,000 a year
That means they make up 1% of Ireland’s high earners.
# no cash
PTSB card rejected at the till tonight? The problem should be fixed now
People all over the country have had their cards rejected today.
# Stress Test
Report card in... Permanent TSB has an €855m shortfall
The group confirmed that it has already “provided for” over 80% of the shortfall .
# don't stress
Why one Irish bank will probably fail European stress tests, but you shouldn't worry (much)
Results will come out on Sunday. Don’t they know it’s a long weekend?
# Debit Cards
Permanent TSB hit by 'short-term' technical glitch
But don’t worry, it’s all fixed now.
PTSB reports 62% drop in half-year operating loss - and 362% increase in mortgage lending
Group chief executive says PTSB is making “huge progress on the arrears problem” and eight out of ten PTSB customers in arrears are engaging with the group.
# Courts
Was it legal? High Court refers PTSB bail-out case to Europe
The High Court could not rule on whether the move was legal.
# no mon no fun
Permanent TSB says problem with debit cards should be fixed now
Customers have been unable to withdraw money from ATMS or use their cards to pay for things.
# 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.
# Mortgage Arrears
PTSB has reduced problem mortgages to one-tenth of peak levels
The bank has urged struggling customers to get in touch, with the prospect of legal action also on the table.
# Transactions
European Bank Holiday leaves employees without wages despite early warnings
No interbank transaction can take place across the EU today.
# Financial Results
Losses down but still no profitability at Permanent TSB
The bank says the next step is to exit state ownership.
# Competition time
Ireland needs more banks, says ESRI
Exodus of non-Irish banks during crisis hit the SME sector hard.
New mortgage deal allows those in negative equity to trade up or down
The new initiative will also allow those on trackers to move house without losing their cheaper loans.
# Markets
Two Irish banks raise funds in transactions not seen for several years
Both transactions, made by Allied Irish Bank and Permanent TSB, were met with strong demand.
# Data Breach
Stolen credit cards may have been used fraudulently in Loyaltybuild breach
The Taoiseach and Minister of State for Tourism are calling for companies to put extra resources into protecting customer’s card details.
# Newbridge
Provisional meeting scheduled between Siptu and PTSB over Newbridge Credit Union
Siptu wants to meet with management after Newbridge Credit Union was taken over by Permanent TSB this week.
# Newbridge
Newbridge Credit Union staff set to meet tonight to discuss takeover
A demonstration against the transfer of the body into the management of PTSB has been taking place this afternoon.
# Credit Unions
Gilmore: Newbridge Credit Union is a one-off case
Gilmore said the government hopes it will be possible to have a credit union in Newbridge again.
# Credit Unions
Credit Unions are "safe, strong and secure" - ILCU chief
Kieron Brennan said that the Newbridge Credit Union case is “exceptional”, but Permanent TSB says it is business as usual for Newbridge members.
# Credit Unions
Newbridge Credit Union taken over by Permanent TSB
The Central Bank applied to have the credit union taken over by the state-backed bank, but campaigners say they will take the case to Europe.
# Credit Unions
Central Bank to apply to have PTSB take over Newbridge Credit Union - reports
A proposed merger with Naas Credit Union has fallen apart, leaving the future of Newbridge Credit Union uncertain.
# Banking
Permanent TSB looks to raise €500 million for mortgage lending
The bank will attempt to defy a stagnant housing market by attracting new investors to a mortgage-backed security.
# Priory Hall
Hogan wants proposed resolution to Priory Hall debacle within three weeks
A spokesperson for the Priory Hall Residents Committee hasn’t “had any contact” with the Department of Environment despite press reports of a planned meeting today.
# Finance committee
Bankers' answers on Priory Hall prompt "massive worry" among residents
AIB boss David Duffy said this week the bank would pull out of a process aimed at reaching a solution for all of the residents, and try and reach deals with just its own customers.
# Debt Crisis
PTSB is "not aware" of letters advising people in minimal arrears to sell their homes
Sinn Féin’s Pearse Dohery says that he has met with a family who were advised to clear arrears of €300 by selling their home, something the PTSB CEO says he is “not aware” of.
# News Fix
Here’s What Happened Today: Thursday
Everyone’s talking about two reports into suicide in Ireland, a major crash on a motorway, and the Dublin mayor who’s giving himself a pay cut…
# Debt Crisis
PTSB says it would “stand over” advising customer to leave college in order to pay mortgage
Stephen Donnelly says that the bank’s response was “deeply disappointing” and says that the crisis is not one of arrears, it is one of debt.
# Here Permanently?
"Too early" to make a call on the future of PTSB - bank CEO
Jeremy Masding says he is confident that the bank has a future and says that 2,200 staff are working hard to compete in Ireland.
# Mortgage Arrears Crisis
Permanent TSB has offered 3,500 split mortgages, has taken legal cases against 1,600
Bank chiefs have told the Oireachtas Finance Committee that it has assisted 800 people to sell homes that they were struggling to pay for.
# Finance committee
WATCH LIVE: PTSB executives face Finance Committee
TDs and Senators are grilling the bankers on mortgage arrears and other issues this week. It’s Permanent TSB’s turn this morning.
# firing line
You're next: Permanent TSB boss faces grilling at Oireachtas
Bank of Ireland, AIB and Ulster Bank chiefs have all been questioned over the past few days – and now it’s the turn of PTSB.
# Prime Numbers
Michael Lowry, mortgages and mayors: The week in numbers
Plus: how many times has the Council of State met since 1940?
# Mortgage Arrears
Permanent TSB tells customer in arrears of €200 to sell her house
The woman’s case was reviewed recently as she has been on an interest-only payment plan for around three years.