Irish Regulator Rebukes Banks For Failing Customers

Law360, London (November 12, 2019, 4:28 PM GMT) -- Retail banks in Ireland have “repeatedly resisted doing the right thing,” the deputy governor of the country’s central bank said Tuesday, in the strongest-worded rebuke to lenders since the sector was embroiled in a mortgage lending scandal.

Ed Sibley told consumer banking chiefs that "too many" lenders continue to rely on customer “inertia” to punish loyal borrowers with high interest rates, which has pushed trust in the sector to an all-time low.

“On too many serious issues — such as tracker mortgages, non-performing loans, some Brexit preparedness issues — the central bank has had to push too many retail banks too...

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