Mr. Bernard Sheridan:

Based on the information we have, I do not accept that consumers are being overcharged. We have been performing this role since 2003. Prior to that this role was performed by the Director of Consumer Affairs. As I indicated earlier charges vary from €100 to €200 per annum, depending on how one uses one's account. I am not saying that amounts to overcharging. Whether banks have been charging appropriately in terms of the service they provide is a different issue. The Deputy also asked how the banks will recover. The avenues open to them are limited and include the net interest margin which is not subject to section 149, which is a much bigger issue and will have a much bigger impact on their balance sheets than will consumer charges.