Everybody Needs A Break

at | 14 Replies

Brian Hayes, CEO of Banking and Payments Federation Ireland

This afternoon.

Former Fine Gael minister and CEO of Banking and Payments Federation Ireland responded to claims that guidance from European regulators undermine the Irish banks’ policy of applying interest and adding it to the principal of a loan at the end of a break period.

Via RTÉ

Speaking on RTÉ’s News at One, Mr Hayes said the EBA guidance, produced on 2 April, could not be clearer.

The guidance said that the sequencing of loan repayments could be changed but the interest rate could not; and if the interest rate was changed, this could be classified as forbearance.

This advice, he said, did not change until yesterday

However…

Um.

Anyone?

Irish banks ‘upfront’ since day one about payment break costs – Brian Hayes (RTÉ)

Rollingnews

14 thoughts on “Everybody Needs A Break

  1. Tony

    Must admit I was naive enough to think we were all being offered a straight respite at a time of crisis. Silly me being rather surprised when Ulster Bank wrote to say they were charging 1500 quid for it

    Reply
  2. GiggidyGoo

    Odd isn’t it that our Minister for Finance didn’t know that? Sure, why would he bother anyway….FG’ers are doing it for themselves.

    Reply
    1. Cian

      Where are getting “our Minister for Finance didn’t know that” from?
      Brian Hayes is a former minister.

      Reply
  3. Joe

    The face of Hayes in that photo….the photo must have just been taken when Doherty showed the note to him and he knew he was caught out. Once a Blue$hit always a Blue$hit !

    Reply
  4. Denny

    The dank of hireland pulled our business over draft the day we opened After lock down

    Had to tell all suppliers if their direct debits bounced ring us
    The humiliation of it all

    March 15th over draft 11k. Before we were forced to close by government and no help from them

    March 16th asked bank to increase our over draft to 25k at 9% interest
    June 29th June over draft 15K Spent whole lockdown fighting to keep alive By takeaway food
    No staff but kept wolf from the door by credit card transactions

    On the Tuesday the 30th told them If they did not reinstate it we would close the business at 11 am Then phoning joe Duffy

    My heart nearly stopped with the stress and boy I was fit to kill
    At lunch time sent the credit card machine to our local branch and we instructed all customers to pay cash

    Thursday 31st June bank over draft reinstated

    Today we have 3 grand in credit

    What total scum bags

    We are backing brave

    In all fairness our branch manager spent two days on phone to head office
    He was powerless but some one in head office was in the position of god who ensured we could not use our account for days

    Reply
      1. Denny

        Her name was georgina and six years trading with the pattern where July august takings is 60% of the years takings Are taken in those two months

        Reply

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