RBS group including Ulster Bank hit with major 'technical' issues

[Baron von Biffo]

Any idea why? Will others follow?

We no longer have McCreevy's ruinous policy of 'light touch' regulation.

[PaddyJoe]

Jim Browne on Newstalk refusing to deal with the issue of outsourcing once again. Hiding behind 'waiting for the results of an independent enquiry'.

[morticia]

Apparently RBS are denying the outsourcing stuff on the grounds that the management are still in Scotland. The mistakes, however, we're made on the floor in India, so it is rumoured. Funnily enough, no-one in the know can understand why the mainstream media aren't running with this; perhaps they've been instructed not to cause panic.

[DCon]

Chatter across the Sea about full Nationalisation of RBS

The future of Royal Bank of Scotland (RBS) was being hotly debated on Thursday as the Treasury sought to play down a report in The Financial Times that the bank could be fully nationalised.

The newspaper reported that senior government figures are discussing the possibility of buying out private investors amid mounting frustration at the bank's failure to lend to small businesses.

It claimed that there were discussions at cabinet level over whether to spend around £5 billion buying up the 18% of the bank that British taxpayers do not already own.

http://www.iii.co.uk/articles/45469/...ationalisation

[DCon]

Ulster Bank have set aside EUR 35,000,000 to compensate customers for the technology glitch

[Baron von Biffo]

Ulster Bank have set aside EUR 35,000,000 to compensate customers for the technology glitch

Some American on DriveTime now saying that the €35m isn't just for compensation but will have to cover 'costs arising' from the balls-up including overtime and consultants fees.

[Dr. FIVE]

important

http://obriend.info/2012/07/31/qui-custodiet-cai/

[C. Flower]

important

http://obriend.info/2012/07/31/qui-custodiet-cai/

"NO SUCH THING AS A CLASS ACTION SUIT IN IRISH LAW."

A shame. Only the rich can take their injuries to Court.

[PaddyJoe]

important

http://obriend.info/2012/07/31/qui-custodiet-cai/

The Consumers Association is calling it a "‘class action’ type initiative". Not quite the same as a 'class action'. Maybe they got some legal advice before putting that up?

The Consumers’ Association of Ireland will guarantee anonymity and that we will respect the requirements and rights of consumers under data protection requirements.

This will be the first ‘class action’ type initiative undertaken that will, we hope, offer future opportunities for a Group Action procedure to be established in Ireland.

http://thecai.ie/media-news/the-cons...n’-initiative/

[Baron von Biffo]

Bad enough that they can't manage their computer system but now it seems that Ulster Bank can't even be trusted to look after a bit of paper.

http://www.breakingnews.ie/ireland/u...ch-564579.html

Must give the doors of the local branch a rattle tonight. You'd never know, there might be a few grand lying around inside.

[Sam Lord]

Bad enough that they can't manage their computer system but now it seems that Ulster Bank can't even be trusted to look after a bit of paper.

http://www.breakingnews.ie/ireland/u...ch-564579.html

Must give the doors of the local branch a rattle tonight. You'd never know, there might be a few grand lying around inside.

The bank has confirmed that a staff member "inadvertently" dropped a folder containing customer information outside one of its offices.

The folder was subsequently returned.

Ulster Bank says only a "very small" number of customers are affected and it's taking the necessary steps to help protect their details as well as contacting all of those involved.

What could that possibly involve? Physically liquidating the person who picked it up and who may have looked at the contents?

[C. Flower]

The Consumers Association is calling it a "‘class action’ type initiative". Not quite the same as a 'class action'. Maybe they got some legal advice before putting that up?

http://thecai.ie/media-news/the-consumers-association-of-ireland-cai-ub-‘class-action’-initiative/

I don't understand why class actions aren't permitted in Ireland. Well, I suppose the fact that it protects the powerful from the mass of people might explain it.

[Andrew49]

Tweet: Machine

Leo O'Shaughnessy ‏@leoie

Seriously? #UlsterBank are offering their customers €25 for the 10 weeks of clusterf*ck earlier this year? 35c per day?!?! ******* banks!
- - - - - - - -

Jeez!

[Baron von Biffo]

Customers should be compensated on the same basis as the bank would have charged them for an unauthorised overdraft if the position had been reversed plus full cover for any losses incurred.

[Baron von Biffo]

The Ulster CEO is on News at One now trying to big up the derisory compensation offer.