Bank chief vows tracker cash return by June | Ireland

Philip Lane said the number of affected customers identified by the bank could still riseROLLINGNEWS

Every customer affected by the tracker mortgage scandal is expected to have been given their money back and compensated by the banks by the end of June, the governor of the Central Bank has said.

Philip Lane said that it was the bank’s “firm guidance” that all lenders would have paid redress and compensation to the 26,600 affected customers identified as part of its investigation by that date.

Of these customers, 13,564 have received €316 million in redress and compensation so far. More than 13,000 are yet to be paid.

Mr Lane said he was confident that most customers had been identified but the final tally could yet rise. “We don’t think there’s going to be any major expansion compared to where we are now…

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