Dáil Éireann Debate, Tuesday - 10 February 2009
185 Deputy Martin Ferris asked the Minister for Finance if he will confirm that all banks seeking State assistance, including Anglo Irish Bank, are required by him to treat all of their customers equally; and if he will make a statement on the matter. [4200/09]
View answerAll entities regulated by the Financial Regulator including those credit institutions (Banks, and Building Societies) who are being supported under the Credit Institutions (Financial Support) Scheme 2008 (Scheme), are required to comply with the terms and provisions of the Consumer Protection Code (Code).
Under the provisions of the Code a regulated entity must ensure that in all its dealings with customers and within the context of its authorisation it, without prejudice to the pursuit of its legitimate commercial aims, does not, through its policies, procedures, or working practices, prevent access to basic financial services, and complies with the letter and spirit of the Code.
In addition a regulated entity must take into consideration the provisions of the relevant anti-money laundering guidance notes and the approval of the Money Laundering Steering committee, and in particular any guidance in such notes on how to establish identity, in order to ensure that a person is not denied access to financial services solely on the grounds that this person does not possess certain specified identification documentation.
I am in regular contact with the Financial Regulator on all matters relating to banking including access to credit and I am assured that all of the covered institutions are monitored for compliance with the Code. You will also be aware that I am in the process of approving codes of conduct for business lending and for mortgage arrears which will issue shortly to all of the credit institutions under the remit of the Financial Regulator including the covered institutions. Both of these Codes contain provisions which should ensure improvements in the way banks treat customers.
