Home Finance Ireland’s AIB fined record 97 mln euros for mortgage overcharging

Ireland’s AIB fined record 97 mln euros for mortgage overcharging

by Enochadmin

An Allied Irish Financial institution (AIB) employee cleans across the department’s ATM, amid the COVID-19 pandemic in Dublin, Eire, March 1, 2021. REUTERS/Clodagh Kilcoyne

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DUBLIN, June 23 (Reuters) – Eire’s AIB (AIBG.I) and its EBS subsidiary have been fined a report 96.7 million euros ($101.6 million) by the nation’s central financial institution for overcharging prospects denied mortgages that monitor base charges.

AIB, which had put aside 70 million euros by the tip of final yr to cowl a possible nice, mentioned it will embrace an extra cost in its 2022 monetary accounts. It apologised “unreservedly” for the influence its breaches had on prospects’ lives.

($1 = 0.9518 euros)

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Reporting by Padraic Halpin
Modifying by David Goodman

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