Professor Philip Lane:

This goes back to what we in the Central Bank can do. This is why this has been, and will continue to be, a much more effective way to resolve this matter than asking individuals to go to the Financial Services Ombudsman or to the courts. The Central Bank can, through its regulatory influence, impose many expectations on the banks. If any individual were to run this in a bilateral dispute then there might be difficulties. Given that this is a system-wide examination, however, we can make our expectation clear that these situations go in favour of the customer.