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Nationwide let of paying fine

Irish Nationwide Building Society has been hit with a €5m fine by the Central Bank for multiple breaches of financial services law and regulation.

However, despite the fact that the Central Bank decided to impose the maximum applicable fine of €5m, it noted INBS "does not have any assets [and] it would not be in the public interest to pursue the collection of the fine".

"Accordingly, the Central Bank will not do so on this occasion," it said.