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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.

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