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 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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