Irish central bank makes lenders pay €647 million over mortgage scandal
Regulator moves on to enforcement actions after securing compensation for 40,000 customers
A Central Bank of Ireland (CBI) investigation has compelled lenders to pay out a total of €647 million ($734 million) in compensation to customers affected by the country’s tracker mortgage scandal.
The regulator acted to secure compensation for nearly 40,000 customers affected by the scandal. It is now looking at possible breaches of financial regulations by firms and executives between 2008 and 2015.
“The extensive, intrusive and complex work we’ve undertaken throughout the examination has
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