After all the turmoil, lenders still have no shame

THE names of the bosses in the banks may have changed, but it seems not much else has since the dark days when the banks were close to collapse and busied themselves illegally taking trackers off customers.

Deputy governor of the Central Bank Ed Sibley said there was a need for a change of approach in the banks. His comments came as it emerged some continue to be in denial about the damage they have inflicted on ordinary homeowners.

Despite all that has happened with banks in this country, they continue to prevaricate, deny and belittle efforts by the Central Bank to get them to right the wrongs they did.

More new cases have emerged, and it is clear more than 100 families and investors have lost their homes and investments as a result of the egregious tracker shenanigans.

The Central Bank has outlined how banks are refusing to compensate some customers denied a tracker mortgage, with other lenders making “unacceptably low” offers of compensation. Two lenders have failed to properly identify affected customers.

The arrogance and contempt displayed towards customers by banks is beyond belief, given they brought this country to the brink of financial collapse and had to be rescued.

Just one lender has been fined so far. Permanent TSB and Ulster Bank are facing enforcement action, with two other unnamed lenders facing similar legal moves. The process is taking forever because banks have teams of lawyers challenging every move the Central Bank makes to bring them to heel. Truly, bankers have no shame.