The Irish Banking Culture Board (IBCB) released a statement late last month discussing the impact of Ireland's "Tracker Mortgage Scandal." It decried the behavior of the banks involved in the improper sale and withdrawal of tracker mortgages, and urged that the misconduct issues identified by the Central Bank of Ireland (CBI) are not forgotten.
Hoping to assure that the scandal serves as a catalyst for lasting cultural and behavioral change in the industry, in September, the CBI charged the Bank of Ireland a record €100.5 million for its role in a mortgage overcharging scandal. That brought the total number of fines resulting from this scandal to €272 million.
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion