AIB is said to have struck up a deal with Everyday Finance, an entity known to be affiliated with vulture fund Cerberus, to sell off €1bn worth of customers’ loans.
Buy-to-let properties, and a number of loans related to agricultural assets, are understood to make up the bulk of the sale.
This is the latest example of a well known Irish financial entity putting its customer in greed’s way, with the Government standing idly by.
What do you think of the Government-abetted practice of selling off customers’ loans to vulture funds? Let us know in the comments below.