Sir, – I fear Ciarán Hancock may be naive in thinking that banks will ever put their customers first ("Banks still not putting customers first", December 21st). For decades, they have inflicted customers with sky-high interest rates and charges, and pointed a gun at the state's head whenever those couldn't plug the holes caused by their misbehaviour.
That the Central Bank couldn’t even tell an Oireachtas committee how many people had been ripped off by the banks over tracker mortgages tells you everything you need to know about the toxic relationship between regulator and regulated.
Unless and until accountability reaches right into the wood-panelled world, such “errors”, “irregularities” and “systems failures” will continue as sure as night follows day.
As ever, the real victim is the citizen, who has never had any real protection from the banks, and has learned to expect little or none from the State. It used to be said Ireland was a banana republic. It’s more like Zimbabwe – in pinstripes. – Yours, etc,
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KEALAN FLYNN,
Galway.
Sir, – In relation to the tracker mortgage scandal, I have to agree with Tim Hogan (December 21st) when he asks why the actions of groups of bank employees are not being seen as criminal offences.
In fact, given the scale of the issue, with over 10,000 mortgages affected and with 15 financial institutions being investigated, there is little doubt that the decisions made in relation to these mortgages were taken at the very highest level in the banks and that the questionable practices arose simultaneously across the sector.
The silence of Government politicians on this scandal is shocking. There is, of course, an ongoing Central Bank examination, but anyone taking the time to read the latest press release on this issue will be struck by the fact that the Central Bank continuously refers to what they “expect” the banks to do at some unspecified time in the months ahead, while they “monitor” the progress of each bank’s self-investigation.
There is still too little by way of proper investigation and enforcement, and no sign that this issue is seen as a contemptible and vast conspiracy against hard-pressed borrowers. – Yours, etc,
PAUL CARROLL,
Clane,
Co Kildare.