IRELAND’S communists condemned the country’s banking system yesterday after a probe revealed scandalous abuses that led to people losing their homes.

Permanent TSB, which was bailed out by the taxpayer during the 2008 banking crisis, has admitted “deeply regrettable” overcharging and wrongdoing on 1,372 mortgage accounts.

It has set up a “major” redress and compensation scheme for its customers who were forced off their tracker loans onto more expensive home loans.