Irish central bank levies record fine for misconduct

CBI fines Ulster Bank Ireland €37.7m over serious failings in “tracker mortgage” scandal

The Central Bank of Ireland
The Central Bank of Ireland
William Murphy

The Central Bank of Ireland has levied a record fine on one of the country’s banks for serious regulatory breaches in the “tracker mortgage” scandal.

The CBI imposed its largest-ever fine of €37.7 million ($44.6 million) on Ulster Bank Ireland under its administrative sanctions procedure, it announced on March 25. It found Ulster Bank responsible for “serious failings in the treatment of its tracker customers holding 5,940 mortgage accounts between August 2004 and April 2020”.

Ulster Bank

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