Irish banks were fined over EUR 270 million in total for a widespread tracker mortgage scandal.

Sources

• PrimaryCentral Bank of Ireland - Bank of Ireland Enforcement ActionThe Central Bank imposed a fine of €100,520,000 on Bank of Ireland for tracker mortgage regulatory breaches on 29 September 2022.
• PrimaryCentral Bank of Ireland - AIB Enforcement ActionAllied Irish Banks p.l.c. was reprimanded and fined €83,300,000 by the Central Bank of Ireland for tracker mortgage regulatory breaches on 23 June 2022.
• SecondaryIrish Banking Culture Board (IBCB)The IBCB states that fines imposed on the five Irish retail banks totalled over €272 million.
• SecondaryPinsent Masons - Out-LawEnforcement actions taken by the Central Bank of Ireland against Irish banks relating to tracker mortgages have been unprecedented, totalling €272 million.