Finance Minister focusing on compensating those affected by track mortgage scandal

The Minister for Finance says he can envisage more of the banks involved in the tracker controversy receiving multi-million euro fines.

However, Paschal Donohoe says he cannot comment further when a Central Bank investigation is ongoing.

Springboard Mortgages is the only one of 11 banks who wrongly moved people off their tracker to be punished so far with a €4.5m euro fine.

Minister Donohoe says his focus is now on compensating those affected.

He said: " Were I to offer a view on that matter now it could well undermine the action that the central bank have been successful in implementing in the past in relation to banks.

"This is why I am focusing my effort and my power in making sure the issue of redress and compensation is dealt with."


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