Jonathan Healy asked for for some thoughts on the new code of conduct for mortgage arrears which came out on the 27th of June. We made a submission on the proposed changes but think that they went beyond what was a reasonable trade off, the use of autodiallers are still allowed, and taking people off trackers (as opposed to changing margins) is also going to be allowed but it hinges on ‘sustainability’ which is an undefined word.

The closing comment that the ‘most toxic bank in the country has the word ‘central’ in front of it’ is not a lightly made charge, in light of the disastrous financial bailout of our banks the weight of responsibility on the people who should have been keeping watch is immeasurable.