Bank of Ireland fined €100.5mn over tracker mortgage scandal
Bank of Ireland, the nation’s largest lender, has been fined a record €100.5mn for refusing customers access to cheaper mortgages that tracked European Central Bank rates in an industry-wide scandal.
The fine by Ireland’s central bank relates to the “significant and at times devastating” impact on nearly 16,000 customers between August 2004 and June 2022.
It comes a week after the government sold its last remaining stake in Bank of Ireland, making it the first institution to return to private hands after a bailout 13 years ago.
This story originally appeared on: Financial Times - Author:Jude Webber
