AIB Group plc

The Central Bank of Ireland reprimanded and fined Allied Irish Banks p.l.c., the principal banking entity of AIB Group, EUR 83.3 million for 57 admitted regulatory breaches affecting 10,015 tracker-mortgage accounts between August 2004 and March 2022. The Central Bank found long-running failures in customer treatment, including overcharging and failures to respect tracker-rate entitlements. It reported that 53 properties were lost as a result of the failings, including 13 family homes. More than EUR 125 million had also been paid in redress, compensation and account-balance adjustments. The enforcement action is concluded. Source: https://www.centralbank.ie/news/article/press-release-aib-reprimanded-and-fined-83m-by-central-bank-of-ireland-for-regulatory-breaches-affecting-tracker-mortgage-customers-23-june-2022