Seán Sherlock (Cork East, Labour)
Link to this: Individually | In context | Oireachtas source

When looking at this matter, one's instinct is to think that there should be a robust consumer protection entity that is separate from the Central Bank. In other words, it should be decoupled because there is a resources issue. If it is necessary to examine 2 million accounts, presumably microscopically, that gives rise to questions as to whether there should be a separate entity to speak for the consumer in this instance. Professor Lane will understand if there is a certain degree of scepticism in respect of the idea that the banks appointing their own independent advisers to oversee the conduct of the investigations and then liaise with the Central Bank in the process. For all sorts of historical reasons, he will understand that there would be some scepticism about whether the Central Bank can adequately and robustly protect the consumer.