Feargal Quinn (Independent)

With so many items of serious concern, it seems wrong at this stage to raise an issue like banking, but there is a great need to have a debate on banking. The Polish competition authority last week banned the use of what we call interchange fees for the issuing of credit cards. I am sure interchange fees exist in many European countries although not in others. I understand the Polish Government accused the banks of acting as a cartel in this area. If it happens in Poland, I assume it happens in Ireland also.

I raise this issue because of the major increase in credit card usage which was outlined in a publication today but even more so because the European Commission today issued a report which suggested inquiries should take place because it would appear a cartel exists among banks with regard to the issuing of credit cards. Not necessarily this week but in the coming months we should have a debate in the House on the issuing of credit cards by banks. Much information will become available to us in the coming weeks and a decision will be reached by the Commission in June.