Mary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

This morning it emerged that a former senior manager of commercial lending at Irish Nationwide, Mr. Tom McMenamin, has been fined €23,000 by the Central Bank, following an eight year investigation for reckless conduct. As the Taoiseach is aware, Irish Nationwide cost the State and the taxpayer €5.4 billion, so the rap on the knuckles he received is astonishing. Despite the banking and economic crisis a decade ago, reckless lending is still not a criminal offence in Ireland. Making reckless lending a criminal offence was a recommendation of the former Governor of the Central Bank, Mr. Patrick Honohan, but it has not been acted on. Will the Taoiseach commit now to legislating appropriately for reckless lending and making it a criminal offence?

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