Oireachtas Joint and Select Committees
Thursday, 19 October 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Engagement with the Central Bank of Ireland
9:30 am
Professor Philip Lane:
Let me differentiate on that. That is definitely the baseline. The banks will look and say, "Well, what is our legal obligation?" This is essentially why we think our examination process is the most effective way to deal with this. There will be areas of ambiguity because of the fact that these banks, when dealing with customers over the years there was the original contract, marketing material, advertisements, broker communication-----
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