Dr Michael Harty has said he is astounded that the Central Bank cannot provide information on the numbers affected by the tracker mortgage scandal in County Clare.
The Independent TD put the question to the Minister for Finance, Paschal Donohoe, and received what he described as a “droll reply” via the Central Bank.
Commenting on the non-disclosure, Dr Harty said, “It seems the Central Bank told the Minister that it does not have ‘data at the level of granularity’ I had requested. In plain English, I think that means they don’t know how many are affected by the scandal in Clare.
“I’m not really surprised that the Central Bank has such a poor handle on the tracker mortgage situation.
“At the time I put the question, the Bank said that 13,000 affected customers nationwide had been identified to date, the majority of whom will receive their redress and compensation before the end of the year.
“Since then, Bank of Ireland said that it has discovered an additional 6,000 cases where customers were due to go on the low-rate mortgage, but had been told they were not entitled to it. So who knows what the final figure will be?
According to Dr Harty, trust in our financial institutions is at an all-time low. “Not only do we not trust the banks but despite all the resourcing and improvements, we can’t be sure that the regulating Central Bank is on top of the situation. People have every right to be angry,” he said.