Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I have it very clear that the behaviour of the banks in terms of their failure to return moneys properly due to people is unacceptable. The hurt and harm that has been caused to citizens as a result of the manner in which the banks have handled this issue is not acceptable to me as Minister for Finance and as a shareholder in a number of these banks. I have heard much talk of cohorts and consumer affairs. What I am aware of is the hurt that has been caused to citizens in our state in terms of how this matter has been recently dealt with.

The Central Bank has made use of the powers available to it under the legislation brought in by the previous Government in 2013 to deal with this issue. The Central Bank has been using all of the tools available to it to resolve this issue. I am supporting it in its work to bring this issue to a conclusion. Too many people are waiting for their money to be repaid. Too much confusion still exists in regard to where stands this issue. In the engagements I have had with the banks on this matter, I have made clear to them that this is a disgrace. This matter should have been resolved by now. I will use the influence open to me as Minister for Finance to bring clarity to this issue in the coming days. I will update the House at the first opportunity available to me to do so, which I expect will be the Private Members' motion tomorrow evening.

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