Central Bank's report on the tracker mortgage examination is "painfully slow for many victims", according to Sinn Fein.

The party's Finance spokesperson Pearse Doherty TD said he welcomed the progress that has already been made, however he also said there is worrying evidence of minimalist approach by the banks with the Central Bank having to go back to two lenders telling them not to leave out whole groups of customers that should be included.

He said: "Only three lenders have established their appeals process yet. These facts point to a minimalist approach by the banks despite their crocodile tears in front of the Finance Committee.

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"While the report shows some progress, the overall picture for many victims is painfully slow. It is now more or less two years since this examination began and there are still families waiting to hear when they will receive their compensation. That is simply not acceptable.

"The fact that the Central Bank’s Phase 2 deadline was, for all intents and purposes, ignored by some lenders is proof that they still don't get the hurt they have caused and carry on causing every day. The report suggests the Central Bank has simply accepted this missed deadlines and accommodated the banks by letting them submit addendums.

"Phase 2 was supposed be drawing line under the scandal and moving swiftly to compensation. Sadly for many families that is far from the case."

(CD/MH)