Tuesday 21 November 2017

Only enforcement will change banks' culture

Central Bank Governor Philip Lane
Central Bank Governor Philip Lane
Editorial

Editorial

In most traumas, first there is the blow and then the bruise. Almost 10 years since our banks broke the country, the blows rain down.

Yesterday, we learned that AIB is set to face sanctions from the Central Bank for overcharging thousands of customers on tracker mortgages.

This bombshell comes only weeks after its chief Bernard Byrne promised to rebuild trust in the State-owned bank.

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