So far David Guinane is the only individual to have been pursued to the end in relation to the trackers
The chairman and sole member of the inquiry into David Guinane found that, “on the balance of probabilities”, the former banker participated in PTSB’s failure between January 2009 and April 2010 “to ensure that it acted fairly in the best interests of its customers”. Photograph: Sam Boal/Collins Photos.
The watchdog subsequently imposed €279 million of fines on seven lenders for scores of regulatory breaches, going back to 2008, when banks stopped offering cheap tracker loans as their own funding costs spiralled during the financial crisis.Ciarán Hancock’s Christmas Business Quiz: the answers and those winners
To be clear, Hinchliffe said there was no finding of dishonesty against Guinane – or that he intended to harm customers. Guinane reiterated this week that he believes that he has been singled out by the Central Bank for events that happened more than 16 years ago and plans to appeal the “fundamentally flawed” findings. Ailbhe O’Neill, SC, for the regulator’s enforcement division, denied during a sanctions hearing on Wednesday that he was scapegoated.
Meanwhile, there is nothing to suggest that any other banker is still being pursued by the Central Bank for their role.
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