Peter Burke (Longford-Westmeath, Fine Gael)
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That is critical because much of the information I have received suggests that the banking institutions are not giving their customers that information and they feel powerless in this area.

The Governor mentioned the team he has and that the scope of the investigation will be very wide, which is important. We have reports both from witnesses and from those in the media of how some institutions have changed the language they use and how it is very interchangeable and complicated. Article 5 of Unfair Terms in Consumer Contracts Directive 93/13/EEC states:

In the case of contracts where all or certain terms offered to the consumer are in writing, these terms must always be drafted in plain intelligible language. Where there is doubt in the meaning of a term, the interpretation most favourable to the consumer shall prevail.

Will the Central Bank's investigation be established in line with the provisions of that article?