Dáil Éireann Debate, Thursday - 6 April 2017
108. Deputy Pearse Doherty asked the Minister for Finance if the Central Bank has raised concerns with lenders with regard to their communications with customers regarding the Central Bank's investigation into the tracker mortgage issue; if all lenders first contacted the Central Bank in advance of such communications; and if he will make a statement on the matter. [17202/17]
Amharc ar fhreagraAs set out in its update published on 23 March, 2017, the Central Bank expects that once impacted customers are identified, lenders will communicate with them in a clear and timely manner setting out the context and next steps in plain English so that they fully understand how they have been impacted, how the lender proposes to address the impact and what actions, if any, are required of the customer.
Given the importance of a clear and comprehensive communications approach, the Central Bank has also issued lenders with guidance in respect of its expectations for their interactions with customers. The Central Bank requires lenders to submit details of their proposed communication approach prior to engaging with impacted customers.
