Arthur Morgan (Louth, Sinn Fein)

Given the regularity of these indiscretions by banks and financial institutions, will the Minister consider giving the Financial Regulator the option of applying a fixed penalty to the various institutions at its discretion? For example, overcharging of up to €500 would attract a penalty of €500 multiplied by a certain amount, resulting in a sliding-scale penalty system. Has the Minister considered such a system?

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