Ireland threatens to penalise banks over mortgage overcharging

Irish Prime Minister Taoiseach Leo Varadkar speaks at Queen's University in Belfast, Northern Ireland August 4, 2017. REUTERS/Clodagh Kilcoyne More

Irish Prime Minister Taoiseach Leo Varadkar speaks at Queen’s University in Belfast, Northern Ireland August 4, 2017. REUTERS/Clodagh Kilcoyne

DUBLIN (Reuters) – Ireland will raise taxes on retail banks if they do not speed up compensating thousands of mortgage customers that they overcharged, Prime Minister Leo Varadkar said on Wednesday.

“I want to state that the government will take further actions if we don’t see further progress and much more quickly, whether that’s through enhanced powers for the Central Bank or increased taxation imposed on the banks,” Varadkar told parliament.

(Reporting by Padraic Halpin; Editing by Adrian Croft)

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