Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I want to ask the Governor about the issue of individual accountability, which he touched on in his opening statement. Many people who are watching and who have observed this scandal in recent months want to know if there ultimately will be any individual accountability. If I had to put my hand on my heart and answer that question, I would have to say I do not think so.

Previously, the Central Bank concluded an enforcement investigation in respect of Springboard Mortgages Limited. Under its enforcement powers, the Central Bank issued that company with the largest fine in the history of the State, a sum of €4.5 million. A relatively small cohort of people were affected, with 222 people overcharged an average of €19,000. The quantum ranged between €100 and €68,000. Springboard ended up repaying slightly less than €6 million to those customers.

Springboard Mortgages Limited was the first institution that had come all the way through the process. Apart from the issuance of a fine, what happened at the level of individual accountability?