John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I will finish on this point because Senator Paddy Burke wishes to come in. The tracker mortgage scandal and other banking issues would have been dealt differently if the committee had not exposed them. When the Central Bank investigates and identifies a wrongdoing, the culpable bank should be named and shamed. I refer to the case of EBS and the 2008 email which clearly states to the agents what they should sell, the numbers they should sell, that they can make money and to do what it takes to make the money, regardless of what they were selling. To gain public confidence, the Central Bank should tell the public what it has done in regard to such cases. If there is no legislation under which to do so, Professor Lane should suggest to the Minister how the legislation could be improved because ordinary punters, a category in which I include myself, believe that the banks are getting away with blue murder in this country and that no one is prepared to take them on. They look to the Central Bank to do so. If more legislation is needed, Professor Lane should tell us that. He spoke about building trust between banks and customers, but there is much to be done in building trust between the Central Bank, the ECB and the public.