Page 8 - Consumer Protection Code News Today

Mortgages are protected You will not lose your tracker rate, even if your mortgage is eventually sold by Ulster Bank to another institution, such as a fund. And if you have a fixed-term mortgage that rate will be honoured until the term is up. Ulster Bank tracker mortgage customers should do nothing. If you switch lender you lose the tracker. Whoever buys the UB tracker mortgage book will have to honour the tracker rate. Holders of non-tracker mortgages should consider switching, especially if ...

Statement – Central Bank of Ireland 02/19/2021 | 12:55pm EDT Send by mail : Message : 19 February 2021Press Release Response to the Ulster Bank Withdrawal Announcement The Central Bank notes the announcement by the Natwest Group that it has decided that Ulster Bank Ireland DAC will withdraw from the Irish banking market. The Central Bank understands that this will be a cause of concern for Ulster Banks staff and customers. Ulster Bank customers do not need to take any immediate ac...

Q: What is the scale of Ulster Bank’s operations in this market? A: The bank is number three in this market. It has loans outstanding of €20.5bn in June this year. There are some €22bn of deposits, according to a banking analyst with Goodbody Stockbrokers, Eamonn Hughes. He says the bank is the number three in the SME (small and medium sized enterprises) market, with a market share of around 20pc, and it has a strong corporate banking franchise. A lot of this is made up of commercial prop...

Q: I have a mortgage with Ulster Bank. It is a tracker with a current net rate of 1.15pc. Will it be sold on to a vulture fund? A: Any decision to close the bank would mean there will be a wind-down over a number of years. But it would mean your mortgage would, in all likelihood, will be sold on. A fund is highly likely to be the buyer, although rival banks such as AIB and Bank of Ireland might try to cherry pick the more profitable of Ulster Bank’s mortgages for themselves. Regardless of whi...

Dundalk based insurance brokers fined by Central Bank for overcharging customers Reporter: Dundalk insurance brokers Keystone have been fined over €40,000 for overcharging customers. The Central Bank of Ireland has fined Dundalk-based insurance broker Keystone Insurance Limited €41,385 for overcharging customers and providing unclear information on fees. It was reported the Central Bank found that over five years, at least 62 customers were over charged a collective total of €9,964.36. K...

The overcharging was discovered as a result of a Central Bank inspection. The investigation found that Keystone failed to have adequate systems and controls to allow it to correctly apply fees in accordance with its terms of business, and communicate clearly on fees to its customers in order for them to make informed financial decisions. Over a five-year period, 62 customers were identified as having been overcharged, and 190 customers received unclear communications. The Central Bank determine...

Central Bank fines Keystone Insurance for code breaches Updated / Thursday, 28 Jan 2021 11:52 Keystone Insurance has been reprimanded and fined €41,385 by the Central Bank for breaches of the Consumer Protection Code The Central Bank has reprimanded and fined Keystone Insurance a total of €41,385 for overcharging customers and providing "unclear" communication on fees to customers. The Central Bank said it found six breaches of the Consumer Protection Code 2012 at Keystone Insurance from A...

Central Bank fines insurance company over €40,000 after customers overcharged The Central Bank of Ireland found that Keystone Insurance overcharged 62 customers over five years. By Lauren Boland Thursday 28 Jan 2021, 1:27 PM Jan 28th 2021, 1:27 PM 24,542 Views 8 Comments Image: Shutterstock/Nopphon_1987 Image: Shutterstock/Nopphon_1987 THE C...

Intervozes Videos from Brazilian NGO Intervozes have been removed from YouTube for alleged copyright infringement. State Judicial branch recognized the illegality of the Content ID mechanism. Last Tuesday (15 December), the São Paulo Court of Justice [State Court of Appeals ruled on the lawsuit filed by Intervozes – Coletivo Brasil de Comunicação Social and condemned Google for “authentic prior censorship” by improperly removing videos from the NGO’s YouTube channel. The company was ...

To embed, copy and paste the code into your website or blog: Companies that sell consumer products worldwide should note the growing convergence between Brazil and the United States for the use of anticompetitive practices laws to prosecute price gouging.  The Brazilian Competition Law (Law No. 12,529/2011) prohibits a non-exhaustive list of anticompetitive practices, including engaging in acts that “arbitrarily increase profits.”  Brazil’s antitrust authority , Conselho Administrativo ...