Irish central bank fines PTSB over mortgage overcharging

Ireland's main banks have agreed to compensate tens of thousands of customers for overcharging on mortgages in similar circumstances.

  

DUBLIN- Ireland's Permanent TSB (PTSB) was fined a record 21 million euros by the Irish central bank on Thursday for overcharging mortgage customers, who should have been given the option of a cheaper "tracker" mortgage.

The fine "reflects the gravity with which the Central Bank views PTSB’s failings and the unacceptable harm PTSB caused to their tracker mortgage customers, from extended periods of significant overcharging to the loss of 12 family homes and 19 buy to let properties," the Irish central bank said in a statement.

Ireland's main banks have agreed to compensate tens of thousands of customers for overcharging on mortgages in similar circumstances.

(Reporting by Conor Humphries; Editing by Toby Chopra) ((conor.humphries@thomsonreuters.com; +35315001518; Reuters Messaging: conor.humphries.thomsonreuters.com@reuters.net))


More From Global