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Ireland's AIB fined record 97 million euros for mortgage overcharging

Ireland's AIB fined record 97 million euros for mortgage overcharging
Ireland's AIB fined record 97 million euros for mortgage overcharging Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
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DUBLIN - Ireland's AIB and its EBS subsidiary have been fined a record 96.7 million euros ($101.6 million) by the country's central bank for overcharging customers denied mortgages that track base rates.

AIB, which had set aside 70 million euros by the end of last year to cover a potential fine, said it would include an additional charge in its 2022 financial accounts. It apologised "unreservedly" for the impact its breaches had on customers' lives.

($1 = 0.9518 euros)

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