“The Only Beneficiaries Of This Are The Banks”

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00135821(Patrick Honohan, Governor of the Central Bank)

No change there then.

The moratorium on home repossession is to be slashed from 12 months to two months under a new banking code.
David Hall from the Irish Mortgage Holders Organisation said the changes to the code are “completely appalling”.
Mr Hall said: “It’s bank led and the Central Bank have serious questions to answer in relation to their consumer protection role in all of this.
“The only beneficiaries of this are the banks. The banks have persuaded the Central Bank that borrowers are sinners and that they must have power to deal with them.”

 

New banking code slashes moratorium on repossessions by 10 months (BreakingNews)

Thanks Leigh

(Laura Hutton/Photocall Ireland)