Dáil Éireann Debate, Tuesday - 23 July 2019
221. Deputy Michael McGrath asked the Minister for Finance the number of complaints before the Financial Services and Pensions Ombudsman relating to the tracker mortgage examination of the Central Bank; the approach of the Ombudsman in dealing with such complaints; and if he will make a statement on the matter. [33502/19]
View answerFirstly, I must point out that the Financial Services and Pensions Ombudsman is independent in the performance of his statutory functions. I have no role in the day to day workings of his office.
However, I have been advised by the Financial Services and Pensions Ombudsman that at the end of June 2019, he had 1,141 tracker mortgage related complaints on hand.
The Financial Services and Pensions Ombudsman maintained that the most effective and efficient way to provide redress and compensation to borrowers who have been wrongly denied tracker mortgages was for the banks to co-operate fully with the Central Bank Examination. Therefore, whilst the Examination was still underway individual tracker mortgage-related complaints were placed on hold pending confirmation that the Central Bank Examination had concluded in respect of those complainants.
As the examination reached its conclusion those complaints which could potentially progress were taken off hold and progressed in the normal manner. At the end of June 2019, 838 tracker mortgage-related complaints were actively being progressed and 303 remained on hold. Some of the complaints that remain on hold relate to complainants who have been deemed impacted and have appealed the outcome of the examination. The FSPO expects that the majority of complaints on hold will shortly be progressed.
The FSPO has a dedicated Tracker Mortgage Team. Complaints are resolved through both informal and formal means. This can include mediation, by telephone and email and through meetings. Each complaint is considered on its own merits. Where the informal interventions do not resolve the dispute, the FSPO investigates and adjudicates complaints in a fair and impartial manner. In the first six months of 2019 the FSPO closed 297 tracker mortgage-related complaints.
I understand that the FSPO wrote to all members of the Houses of the Oireachtas informing them of the Protocol for the Provision of Information to Members of the Oireachtas by State Bodies and providing a dedicated email address for the timely provision of information to members of the Oireachtas.
