KBC Bank Ireland has been fined €18.3 million for taking €154 million from 3,700 of its customers. The bank did not just wrongly take the money from those accounts but in 11 cases it took a family home. The bank wrongly took 66 properties in total from individuals, 39 of those during the investigation. Until October last year, KBC Bank Ireland was wrongly taking money from accounts and overcharging them.
What is going to happen? The problem is that the banks have collectively stolen €1 billion from customer accounts, affecting 40,000 people. They took family homes, causing worry and anxiety, and they took other properties. They will be slapped with a fine but nobody is going to be held individually accountable.