Dáil Éireann Debate, Wednesday - 29 September 2010
452 Deputy Michael Noonan asked the Minister for Finance if his attention has been drawn to the adverse impact of increased bank charges on business here; his plans to discuss these charges with the banks in which the State has a share holding with a view to reducing them; and if he will make a statement on the matter. [32540/10]
View answerThe Government operate an arm's length relationship with the banks in which the State has a shareholding and the commercial decisions on how best to operate the bank remains a matter for management and the board. I have no role in the setting or monitoring of bank charges. This responsibility lies with the Financial Regulator.
Indeed, under the Consumer Credit Act, 1995, banks must make a submission to the Financial Regulator if they wish to introduce or increase charges in respect of a service.
