4 IN 5 BANKS HAVE ALMOST COMPLETED TRACKER MORTGAGE SCANDAL COMPENSATION SCHEMES

Irish banks have paid more than half a billion euro to people hit by the tracker mortgage scandal.

The banks identified more than 38,000 affected accounts and had paid out €580 million at the end of August.

Four of the five main lenders are close to completing their compensation schemes with the Central Bank putting significant pressure on the last lender.

Central Bank Governor Philip Lane says there’s been significant progress this year.

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