Seán Sherlock (Cork East, Labour)
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Question 144: To ask the Minister for Finance if the consumer panel of the Financial Regulator's office has a regular reporting procedure to his Department on changes in banks' charges for overdrafts and penalty fees; and if he will make a statement on the matter. [44939/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The arrangements for the membership, functions and resources of the Consultative Consumer Panel are set out in the Central Bank Act 1942, as amended. Such arrangements provide that the Panel always reports to the Financial Regulator and do not provide for a reporting procedure to my Department.

I understand that the Panel on a number of occasions has highlighted charging issues and sought further information from the Financial Regulator.