Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

To add to what Deputy Pearse Doherty said, it is really important that at this late stage people are told where they stand because there are various strands of outstanding issues here and the Central Bank is clearly moving towards a conclusion on all these issues. There will be legal challenges on certain issues. That is absolutely certain at this stage.

The other key point I want to make is that while I welcome the fact that there are six enforcement investigations under way, the elephant in the room is the following question. Why did this happen and how could this happen across all the main lenders in the same way in a manner that was disadvantageous to the consumers and advantageous to the bank? That is the question that has to be answered and at the end of the day, if we are to have any accountability for what has happened, that question must be answered.

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