Richard O'Donoghue (Limerick County, Independent) | Oireachtas source

As a major shareholder, was the Government aware of Bank of Ireland's plans to significantly reduce its presence in the community? Was the Minister privy to this information regarding the closures before the sudden announcement on Monday? Does the Government support Bank of Ireland and its decision to close more than 100 branches? Is the Government's policy to support Bank of Ireland and these closures, which are concentrated more in rural locations than urban settings?

Four bank branches are closing in County Limerick. Branches are closing in Askeaton, Abbeyfeale and Rathkeale in the west of the county, Bruff in the east and three branches are closing in the city. We are so lucky we have our credit unions and post offices. They remain in Ireland and are showing commitment to the communities and neighbourhoods in which they are located. Does the Minister know that all the boards of the credit unions are made up of volunteers? That is why they have the community spirit to hold on and look after people in our communities in towns, villages and rural areas. It is because of the involvement of volunteers from local areas.

I am especially appalled by the number of people who tell me they got into trouble during the previous bank crisis but continued to speak to their banks and pay off their loans. Yet, when these people go to the banks they are treated badly and always reminded of when they were in trouble. How can the banks get away with this? They are forcing customers to stay with them. Those customers cannot move because of their credit history, despite having made major repayments on their loans. Where is the Central Bank in this situation? We heard about the insurance industry last week. The Central Bank sits idly by in regard to the insurance companies and the banking sector. Who is the Government looking after here? Is it the people of Ireland or is the Minister working for the banks?

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