We gave relief to the banks and thanks to this the customers were being deceived with the price tracker rates

It’s now 13 years and counting since the Tracker mortgage overcharging scandal was first exposed.

And it’s not over yet. Bank of Ireland still has to be fined, while more than 1,000 tracker-loss cases are being dealt with by the Financial Services Ombudsman.

A string of lenders have been fined some €180m by the Central Bank for tracker mortgage regulatory violations,

Yet, at a time when the economy was in shambles, no one has ever landed behind bars for their actions of wreaking havoc on families by tricking their good-value trackers.

Yes, there are two inquiries about individuals by the Central Bank, but one of them mainly involves issues other than trackers.

The central bank has focused on imposing fines on institutions. And AIB Group’s fine, at just under 97 million euros, is the biggest by a long shot. On top of this the bank has had to pay over €600m in compensation, redress, legal fees and administrative costs.

Need better. The wrap sheet is long and makes for frustrating reading.

AIB and its subsidiary have finally failed to give people good value trackers when they deserved them. It failed to warn customers who had taken the tracker at a certain rate for a certain period of time that it would not take them back and wrongly excluded customers from a central bank-owned investigation of tracker issues. .

This is just a sample of 57 regulatory violations committed by AIB and 36 by EBS.

Some 21 homes were lost as a direct result of the actions of the two lenders.

And we don’t know how many suicides and mental health issues resulted in families coming under enormous financial pressure to meet high mortgage payments in times of austerity after losing their cheap trackers.

So far the debacle has cost lenders €1.5bn in fines, compensation, legal fees and other costs.

Nearly 41,000 mortgage accounts of all lenders have been affected.

In AIB, 10,015 individual customers were affected while 2,830 EBS customers were affected.

Tracker mortgages were introduced to this country by the Bank of Scotland in 2001, with the public quickly realizing they were a good thing. They also worked well for banks for a time when their funding costs were in line with European Central Bank rates.

But the 2008 financial crisis meant that lenders’ borrowing costs went up. Then he started a campaign to free his books from as many trackers as possible.

In October 2009, the newspaper was the first to deny reports that there was an issue of banks denial of wrongful people-tracking contracts they were entitled to.

Irish independent Got access to a letter sent to the central bank by then-financial services ombudsman Joe Meade, asking people to investigate what he saw as an industry-wide effort to part with their trackers.

By 2015 the central bank forced lenders to conduct an industry-wide review of their mortgage books to see how many customers had been wronged.

Banks debated and protested. Of all lenders’ 41,000 cases, half of these admissions were the result of the Central Bank’s submission to strong-armed lenders. We bailed out the banks and thanked us by tricking their customers with good value trackers because they miscalculated the profitability of those mortgages.

The time has come for the Central Bank to subject itself to an independent review as to why it took so long to sort it all out.

Some of those affected by the tracker scandal now include teenagers who were not born in the first debacle. It shouldn’t take that long to get to the bottom of such scams.