Former PTSB CEO wins appeal against Central Bank inquiry
Former Permanent TSB chief executive David Guinane has won an appeal against the findings of a Central Bank inquiry over his role in PTSB's treatment of tracker mortgage customers.
David Guinane, the former CEO of PTSB, has successfully challenged a Central Bank inquiry into his role in the bank's handling of tracker mortgage customers during the financial crisis. The Central Bank had found Guinane guilty of regulatory breaches, resulting in an €80,000 fine and a reprimand. However, the Irish Financial Services Appeals Tribunal (IFSAT) overturned the decision, ruling that the Central Bank inquiry was in error and failed to provide fair notice of certain issues.
Guinane, who served at PTSB for over 25 years, welcomed the decision, stating that it exonerated him of the allegations. The Central Bank, however, stated that it does not plan to appeal the IFSAT's findings, citing the completion of investigations in 2019 and the admission of 42 regulatory breaches by PTSB.
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