AIB set for tracker mortgage fine

AIB is set to be hit with a multi-million euro fine for its part in the tracker mortgage scandal.

The Central Bank of Ireland will announce details of the fine at 11 o’clock this morning.

The bank’s reportedly being sanctioned for denying 15,000 customers cheaper tracker mortgages against the backdrop of rising interest rates.

Last March, Ulster Bank was fined over €37.7m by the Central Bank for the same offence against nearly 6,000 – 43 of those lost properties.

It’s expected that the fine AIB will face today will well exceed that of Ulster Bank’s.

The sanctions come after an ongoing six year investigation.


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