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News

An Garda Síochána and FraudSMART issue alert on Text Message Scam

21st August 2019

An Garda Síochána at the Garda National Economic Crime Bureau and FraudSMART, the fraud awareness initiative of Banking & Payments Federation Ireland (BPFI) have today issued an alert the public to an ongoing Text Message Scam focused on gaining access to personal bank accounts.

Cross-sector Fintech Foresight Group to drive development of fintech under Government’s financial services strategy

20th August 2019

Banking & Payments Federation Ireland (BPFI) today convened a special cross-sector working group tasked with driving the development of  fintech and informing policy  under the Government’s financial services strategy, Ireland for Finance. Chaired by BPFI, the Fintech Foresight Group brings together representatives from domestic and international banks, global technology companies, indigenous fintech companies, third-level institutions, public sector representatives and international experts.

Banking Sector Supports Extension of Help-to-Buy Scheme

12th August 2019

Banking & Payments Federation Ireland (BPFI) has today highlighted the importance of the Help-to-Buy (HTB) incentive scheme for the stability of the housing market and is supporting its extension. The scheme, which is due to expire at the end of this year, provides a tax rebate of up to €20,000 for first time buyers purchasing a new home.

Students warned of rental accommodation scams ahead of Leaving Cert results

25th July 2019

FraudSMART in association with An Garda Síochána and the Union of Students in Ireland (USI) are today advising consumers, and in particular third level students and their parents, to be alert to rental accommodation scams in which victims get conned into paying a deposit for a property that does not exist or has already been rented, often to multiple people.

Banking sector welcomes additional time for rollout of online payment rules for ecommerce businesses under PSD2

9th August 2019

Banking & Payments Federation Ireland (BPFI) welcomes today’s Notice from the Central Bank of Ireland (CBI) (here) which provides additional time for the implementation of Strong Customers Authentication (SCA) rules for ecommerce transactions due to come into force on September 14th under the PSD2 Directive. This migration period, yet to be defined by the CBI, will allow more time for the ecommerce industry, including online businesses, to implement SCA reforms in a compliant manner.

BPFI Publishes Brexit Banking FAQs for Consumers

19th July 2019

Banking & Payments Federation Ireland (BPFI) have today published a series of Frequently Asked Questions (FAQ) for consumers to help explain how Brexit will affect bank products and services including mortgages, savings and payments. Also included is information for business customers and outlines how BPFI member banks are preparing in the event of a hard Brexit.

Central Bank Report on Tracker Mortgage Investigation: BPFI Statement

16th July 2019

Noting publication today of the Central Bank’s final report on its tracker mortgage investigation, BPFI’s CEO, Brian Hayes, stated:

 “The tracker mortgage scandal represents a shameful chapter in Irish banking which caused great distress and financial damage to many bank customers.  We welcome the conclusion of this element of the Central Bank’s work, while its enforcement actions against offending banks remain to be concluded.”

Brian Hayes, BPFI CEO addresses the Association of European Journalists in Dublin

12th July 2019

Brian Hayes, CEO, Banking & Payments Federation Ireland today addressed the lunch of the Association of European Journalists at Buswell’s Hotel, Dublin. In his speech, extracts of which are included below, he addressed the issue of trust and reputation and reaffirmed the banking industry’s commitment to rebuilding trust in the sector and embedding a customer-focused culture.

Mortgage Approvals: Strong uplift in May 2019

5th July 2019

Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for May 2019.

The following are the key elements:

  • A total of 4,926 mortgages were approved in May – some  2,520 (51.2% of total volume) were for first-time buyers (FTBs) while mover purchasers accounted for 1,297 (26.3%).
  • The number of mortgages approved rose by 19.9% month-on-month and by 10.1% year-on-year.
  • Mortgages approved in May 2019 were valued at €1,137 million – of which FTBs accounted for €600 million (52.8%) and €344 million (30.3%) by mover purchasers.
  • The value of mortgage approvals rose by 22.1% month-on-month and by 12.1% year-on-year.