THE three retail banks have been accused of “ripping off” their customers by paying savers tiny amounts in interest while using their money to earn billions of euro. The accusation comes after Central Bank Governor Gabriel Makhlouf told TDs and senators banks were making around €1.8bn a year by putting household and business deposits they have in
A blunder on around 35,000 KBC mortgages transferred to Bank of Ireland has led to fears the borrowers' credit ratings may be impacted. The mortgage 'start date' was incorrectly entered into Bank of Ireland systems, and as a result, the lender did not submit the data to the Central Bank's Central Credit Register (CCR). And Bank of
The collapse of America’s Silicon Valley Bank (SVB) may force the European Central Bank (ECB) to rethink its plans for a string of interest rate rises this year. Economists said the ECB was still expected to announce a 0.5 percentage point rise this Thursday. Some ECB governors had called for four rate rises this year.
Around 1,900 AIB customers are part of a select group who have seen at least 90% of their debt written off, it has been confirmed. After the revelations that hurling legend DJ Carey had millions of euro written off his debt, AIB will today tell an Oireachtas committee that 1,900 borrowers - or 1% of their financially struggling customers
THE Central Bank has told the Minister for Finance it does not want powers to cap the interest rates that vulture funds can charge mortgage holders. It comes as thousands of borrowers are at risk of going into arrears as they are being charged rates as high as 7pc by vulture funds that bought their
Banks will be required to keep access to cash services at 2022 levels under a new legislative framework recommended in the Retail Banking Review. It is understood finance minister Paschal Donohoe has accepted the recommendation and that work on the framework will begin next year, with heads of heads of a bill to be delivered
