Dáil Éireann Debate, Tuesday - 11 October 2016
96. Deputy Clare Daly asked the Minister for Finance to outline his views on reports that a bank (details supplied) has shut the accounts of an organisation for political reasons, amounting to an attack on the right to freely organise. [29783/16]
View answerThe deputy will be aware that I in my role as the Minister for Finance, have no direct function in the relationship between the bank and its customers. Decisions taken by the bank in this regard are matters for the board and management of the institution. The Minister for Finance must ensure that the bank is run on a commercial, cost effective and independent basis in order to comply with European competition rules and to protect the value of the State's investment. A Relationship Framework has been specified that defines the nature of the relationship between the Minister for Finance and the bank. This Framework was published on 30 March 2012 and is available at: www.finance.gov.ie/sites/default/files/Bank-of-Ireland1.pdf.
I understand that the organisation involved intends raising the matter with the Financial Services Ombudsman. This is the appropriate action for the organisation to take to ensure it has been treated fairly in this case.
