Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

After the original deadline of 30 September 2016 was not met by the majority of banks, it was extended by another year. One of the few powers the bank has, and is willing to use, is to direct banks to issue reports. In December 2016, the Central Bank did this. It set clear timeframes for phases one and two but despite all what we have heard to the effect that the Central Bank was pushing the banks, it gave them another 12 months to come up with a figure of how many customers they had taken money from. That is simply unacceptable. I am sure the individuals before us are upstanding people and are trying to do the best for the country and for the individuals affected but I know some of these people personally and I know their stories. I do not understand why they allowed the banks another 12 months and it flies in the face of the witnesses' claims that they are trying to push the banks into action. The banks have strung their customers out and three quarters of those identified have not yet had a penny in redress.