Kieran O'Donnell (Limerick City, Fine Gael)
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The Central Bank and the Oireachtas have a responsibility to restore confidence in the banking system. The banks had free licence for the past 17 years to impose charges at will without reference to the Central Bank. This defies logic, in my view; it is inexplicable and shocking. I ask Mr. Sheridan to provide us with the information we have looked for so that we can probe this further.

I was involved with SMEs for many years when I was in practice. Excessive charges were applied to overdrafts and in many cases there was an accumulation of unpaid charges and surcharges. The SME sector generates jobs and they must be given the supports. The banks have this lucky-dip bag for the past 17 years. They dip into it at will without any reference to the Central Bank. This defies logic in my view, and it should not have been allowed to continue.