Oireachtas Joint and Select Committees

Thursday, 20 December 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Contribution of Public Interest Directors in Financial Institutions: Discussion

10:45 am

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

In fairness, Mr. Considine was not on the remuneration committee. For that reason, I am directing my question to Mr. Walsh. The Bank of Ireland has increased interest rates in respect of cash advances on credit cards to 26%. Mr. Walsh will be aware that there is no interest holiday on cash advance fees. Do Mr. Walsh and Mr. Considine, as public interest directors, intend to object to this increase? Many of the people using card credits are the same people who are in mortgage distress and financial difficulty. Do Mr. Walsh and Mr. Considine, as public interest directors, intend to raise with the bank how this increase will impact on taxpayers?

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