Oireachtas Joint and Select Committees

Tuesday, 26 January 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Banking Sector and Central Bank of Ireland: Discussion

2:55 pm

Photo of Aideen HaydenAideen Hayden (Labour) | Oireachtas source

I am sure there are many who take the view that given the way these operators were bailed out, it is time for them to step up.

I have one final question and it relates again to Professor Lane's role in consumer protection. There has been some dissatisfaction with the action of banks relating to vulnerable customers, particularly, as I am sure Professor Lane will know, the introduction by Bank of Ireland in the latter part of last year of rules that set the minimum over-the-counter withdrawal amount at €700. This discourages customers from interfacing directly with bank staff. There is an issue here with vulnerable customers and those who do not use their Bank of Ireland 365 online or AIB interfaces when doing their banking business. Does Professor Lane see a role here in protecting such vulnerable customers?

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