Gerard P. Craughwell on Tracker Mortgages and Galway West vacancy
Gerard P. Craughwell addressed Tracker Mortgage complaints and local political developments, remembering Sister Stan and noting Catherine Connolly's election in Galway. He said he will write to the Garda Commissioner seeking an investigation into possible collusion by banks over Tracker Mortgages.
Craughwell began by remembering Sister Stan and expressing regional pride, saying both he and the leader viewed the election of Catherine Connolly as a great thing. He noted Connolly was born in the Tlada and reared in Chantala and that her election created a vacancy for the leader to challenge for a seat in Galway West.
He said he watched a programme on Tracker Mortgages and described the scenes as heartbreaking, recounting couples who were "screwed out of hundreds and thousands of euros." He cited on-screen examples where one couple received 17,000 repaid to them and another 14,000.
Craughwell questioned how all banks reached the same decision to deny customers a return to tracker mortgages after a fixed period, saying it "can only spell of some sort of collusion" between senior bank officials. He said he believes there is a possible fraud and announced he will ask the Garda Commissioner to investigate.
He urged colleagues to take similar action and to think of the families affected by the mortgage decisions, emphasising their suffering. He closed by reiterating he will write to the Garda Commissioner and thanking colleagues for their time.
Local remembrance and electoral note
Craughwell began by remembering Sister Stan and expressing regional pride, saying both he and the leader viewed the election of Catherine Connolly as a great thing. He noted Connolly was born in the Tlada and reared in Chantala and that her election created a vacancy for the leader to challenge for a seat in Galway West.
Reaction to Tracker Mortgage programme
He said he watched a programme on Tracker Mortgages and described the scenes as heartbreaking, recounting couples who were "screwed out of hundreds and thousands of euros." He cited on-screen examples where one couple received 17,000 repaid to them and another 14,000.
Allegations of collusion and call for inquiry
Craughwell questioned how all banks reached the same decision to deny customers a return to tracker mortgages after a fixed period, saying it "can only spell of some sort of collusion" between senior bank officials. He said he believes there is a possible fraud and announced he will ask the Garda Commissioner to investigate.
Parliamentary action and concern for families
He urged colleagues to take similar action and to think of the families affected by the mortgage decisions, emphasising their suffering. He closed by reiterating he will write to the Garda Commissioner and thanking colleagues for their time.
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Transcript
I too would like to remember Sister Stan, may her gentle soul rest in peace. As a proud Galway region, like the leader, I'm sure we both feel that the election of Catherine Connolly was a great thing. A woman born in the Tlada and reared in Chantala, many people who were born in both of those address areas didn't have the same opportunity in life. And what a great thing it is to see Catherine create a vacancy for the leader to challenge for a seat in Galway West. Last night I watched the programme on Tracker Mortgages. And I will write to the Garda Commissioner today seeking an investigation into a possible fraudulent action combined by all of the banks in this country. The collusion that took place to ensure that ordinary citizens of this country who bailed out the banks were absolutely defrauded. And that's the way it seems over the Tracker Mortgage issue. To watch couples last night, it was heartbroken to see. Couples who were seen over the Tracker Mortgage issue. To watch couples last night, it was heartbroken to see. Couples who were screwed out of hundreds and thousands of euros. One couple we saw last night got 17,000 repaid to them. Another couple we saw got 14,000. But the question has to be asked, how did all of the banks arrive at the same decision at the same time to deny people access to return to Tracker Mortgages after being on a fixed mortgage? It can only spell of some sort of collusion between senior bank officials at the very top of the Irish banking industry. And I do believe that we need to ask the Garda Commissioner to investigate this. I believe that there is a possible fraud. I'm not saying there is definitely one. I can see the coyer looking at. And the clerk ready to jump any minute now. You have to be careful in your language in terms of alleviation. I will write to the Garda Commissioner and I will look for an investigation. And I would encourage colleagues to do the same. Think of the families and what they suffered while that horrendous act took place. So I will ask for that. And I thank you for your time. And I just didn't quite go over the border, I think. And I thank you for your time.