Kieran O'Donnell (Limerick East, Fine Gael)

The review is all very well but let us consider the historical position with Anglo Irish Bank. The Financial Regulator relied on evidence provided by Anglo Irish Bank whereas it should have carried out independent verification work on day one. Instead it relied on an independent review carried out by the banks and it is now considering whether to carry out a review verification at a later date. A thorough, in depth review should be carried out by the Financial Regulator now. People are being caught with between €10,000 and €40,000 in terms of breakage fees on fixed rate mortgages, many of whom are young families and it is not good enough. Will the Minister call on the Financial Regulator to extend the review to a thorough verification of fixed rate mortgages?

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