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Seanad
‹ Order of Business (Resumed)

Banks and mortgage arrears representatives

Summary

Senator Burke asks the Leader to tell the Finance Minister that banks, including KBC, should deal with legal representatives acting for customers in arrears.

On a different issue from the one that has been raised this afternoon, I raise the matter of how the banking sector, in particular KBC Bank, is behaving. It has come to my attention that where legal representatives have entered into correspondence in a legal capacity on behalf of their clients who have fallen into arrears, the banks will not enter into discussions, even though there is a clear record of a request that the legal representative be involved. Will the Leader make the position known to the Minister for Finance that the banks are obliged to co-operate not only with the customers but their legal representatives? It is a disgrace that a legal representative, who has sent a written authority from their client authorising them to discuss the arrears with the bank in March, still cannot meet with the bank three months later. It is disgraceful that a bank is behaving in that manner. Will the Leader bring this to the attention of the Minister for Finance? I will certainly be writing to the Minister.

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