Results 3,781-3,800 of 26,021 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: The Central Bank and the Oireachtas have a responsibility to restore confidence in the banking system. The banks had free licence for the past 17 years to impose charges at will without reference to the Central Bank. This defies logic, in my view; it is inexplicable and shocking. I ask Mr. Sheridan to provide us with the information we have looked for so that we can probe this further. I...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: Is there any discernible difference between ATM charges and over-the-counter charges? Mr. Sheridan quoted the fees but they do not appear to be significantly different.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: That is not the public perception. The banks state all the time that it is far more cost-effective to use the ATM or to bank online, yet the prices appear to be no different. What is going on?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: They are shutting down branches all over the country.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: What about normal bank charges?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: The Central Bank did not approve many of the bank charges. Prior to the 1995 legislation, there were notified bank charges. The changes came in with the enactment of the Consumer Credit Act 1995 and the coming into operation of section 149 in May 1996. However, prior to that date, the banks put in notified increases. Do the banks require approval from the Central Bank if they want to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: No. I am asking about the procedure should the banks avail of the provisions that applied prior to the requirements of section 149 of the Consumer Credit Act 1995 to increase existing charges up to ceiling level, based on what they had notified prior to the introduction of section 149 provisions in 1996. Are they required to get approval from the Central Bank at present for such changes in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: Therefore, for many of the charges that the banks have introduced since 1996, the banks did not and do not require the approval of the Central Bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: I know that, but does Mr. Sheridan know the number of increases that were introduced by the banks per annum since 1996 under the old legislation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: The devil is in the detail. My point is that it is clear there is a major problem. The banks are clearly using the old provisions to bring in charges. The issue is the differential in margins. I suspect that the banks are doing a hybrid based on the charges that require approval from the Central Bank. They appear to get a high rate of approval from the Central Bank. Then they are mixing...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: Is it not ironic that banks which have been bailed out by the ordinary person to the tune of €64 billion are relying on pre-1996 notifications to introduce charges that have not been flagged as part of a larger package of charges? In my view, there is a lack of transparency in the bank charges that are imposed on personal and business customers. Is it not fair to suggest that the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: If it is a pre-1996 charge, is a bank required under legislation to make its customers aware of an increase in that charge? Is it required to make its customers aware that it did not have to get the approval of the Central Bank for the increase?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: I do not want to delay the committee because Deputy Donnelly wants to contribute. Can the Central Bank give the committee a breakdown of the number of increases that relate to pre-1996 charges and the number that relate to post-1996 charges? I am looking for details of what has happened since 1996, or before then if the Central Bank can go back further than 1996. What percentage of charges...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: The people on whom these charges are being imposed are entitled to nothing less.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: Based on pre-1996 legislation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Bank Charges: Discussion with Central Bank and ISME (17 Apr 2013)

Kieran O'Donnell: They do not even have to do that.

Public Accounts Committee: Business of Committee (18 Apr 2013)

Kieran O'Donnell: Once again we have received accounts nearly 14 months after the end of the year. In terms of the Children Acts Advisory Board it was almost 18 months afterwards. Can the Comptroller and Auditor General indicate why these reports take so long to reach us?

Public Accounts Committee: Business of Committee (18 Apr 2013)

Kieran O'Donnell: The Broadcasting Authority of Ireland accounts of 2011 had a clean audit opinion. When were the accounts signed off?

Public Accounts Committee: Business of Committee (18 Apr 2013)

Kieran O'Donnell: Does the Broadcasting Authority of Ireland then go to the Department of Communications, Energy and Natural Resources.?

Public Accounts Committee: Business of Committee (18 Apr 2013)

Kieran O'Donnell: Are the accounts received from the Department or from the Broadcasting Authority of Ireland?