IRISH BANKING CULTURE BOARD WELCOMES BANKS’ DECISIONS TO WAIVE MORTGAGE COMPLAINTS TIMELINE

 

“Actions and not words are the clearest indicators of cultural change in banks”, Mr. Justice John Hedigan, Chairman of the Irish Banking Culture Board

 

 

Dublin – Monday 26th August 2019: Chair of the Irish Banking Culture Board (IBCB), Mr. Justice John Hedigan, has today welcomed the decision by each of the IBCB member banks to waive the time limit in relation to tracker mortgage complaints, as requested by the Financial Services Ombudsman.

 

 

Mr. Justice Hedigan said: “Actions and not words will be the clearest indicators of cultural change in banking. It is in this context that I welcome the announcement by each of the IBCB member banks that they are to waive the time limit in relation to tracker mortgage complaints, as requested by the Financial Services Ombudsman.

 

 

“As I stated at the launch of the IBCB in April, the time to regain public trust in the Irish banking system is now and our purpose as a Board is to ensure that banks should ‘focus on the customer, so as to ensure fair and humane outcomes particularly for those in trouble.

 

 

“Last week, when this issue came to my attention, I contacted each of the IBCB member banks and asked that they explain their Institution’s position on this troubling matter.

 

 

“It is my firm belief that only change that comes from within the banks can be authentic and sustainable. I would like to acknowledge this most recent step taken by them which prioritises fair outcomes for their customers.

 

 

“There is a significant journey to be undertaken in the restoration of public trust in the banking sector. Each action taken that seeks to prioritise fair outcomes for customers is another step on that journey.”