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90% of the loans due to be sold are family homes – about 3,200 accounts.
The Bill puts into law what already exists at the moment as a voluntary Central Bank code
Many of the mortgage-holders sold today had engaged with the bank and reached arrangements.
The Central Bank said no sanctions have been put in place since the Code of Conduct on Mortgage Arrears commencement in 2009.
Sinn Féin’s Pearse Doherty said the bank has been asked to appear before the Oireachtas Finance Committee next week.
PTSB, which is 75% State owned, has been defending its plan to sell off a book of non-performing loans.
The proposed sell-off has become the subject of a political battle in recent days.
The bank, which is 75% owned by the State, plans to sell off a loan book worth €4 billion.
PTSB, which is 75% owned by the State, states it is selling off non-performing loans.
The IFA says if vulture funds come after farmers they’ll have to get to them through them first.
Housing has become the biggest issue for hundreds of thousands of people in Ireland.