Dáil Éireann Debate, Tuesday - 6 November 2012
254. Deputy Martin Heydon asked the Minister for Finance if his attention has been drawn to any complaints of bullying, mis-selling or malpractice made against any of the executives of the pillar banks or their subsidiaries; and if he will make a statement on the matter. [48559/12]
View answer255. Deputy Martin Heydon asked the Minister for Finance if his attention has been drawn to any investigations of bullying, mis-selling or malpractice in Irish banks or their subsidiaries, which have been carried out while the institutions were in public ownership, and if he is satisfied with the findings or such report and its conclusions; and if he will make a statement on the matter. [48570/12]
View answerI propose to take Questions Nos. 254 and 255 together.
As the Deputy will be aware under the Relationship Frameworks agreed between myself and the Covered Banks responsibility for the day-to-day operations of each Bank rests with the Board of the Bank. The Banks are obligated to notify me of a number of matters under the terms of their respective Relationship Frameworks. However some of the issues raised in your query are not notifiable to me.
I can inform the Deputy however that my attention has been drawn to current investigations regarding potential mis-selling of Payment Protection Insurance in the Covered Banks and to matters relating to the misreporting of customer data to the Irish Credit Bureau by both AIB and Permanent TSB. I have also been made aware from time to time of investigations and instances of overcharging and other related matters. I cannot provide any further information as such matters are commercially sensitive for the banks.
You will appreciate that customers of each of the banks can and do complain about mis-selling and malpractice of the respective banks to the banks themselves and to the Financial Service Ombudsman and in certain cases take legal actions. I may from time to time be aware of such actions.
My attention hasn't been drawn to any particular bullying of employees in the covered banks since they came into Government ownership as such matters would generally be dealt with on a confidential basis within each of the relevant institutions.
If the Deputy is aware of any instance of bullying, malpractice or mis-selling he should report it to the appropriate authority as a matter of urgency. If such matters fall within the notification requirement of the Relationship Framework I will be notified in due course.
