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Departmental Consultations

Dáil Éireann Debate, Wednesday - 19 January 2022

Wednesday, 19 January 2022

Ceisteanna (358)

Gerald Nash


358. Deputy Ged Nash asked the Minister for Finance if he will provide an update on the expected commencement date for the retail banking review public consultation process; and if he will make a statement on the matter. [2287/22]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

On 23rd November last, I announced the Terms of Reference for the Retail Banking Review. On the same date, I wrote to the Chair of the Committee on Finance, Public Expenditure and Reform, and Taoiseach, Mr. John McGuinness T.D., informing him of the review and its Term of Reference and inviting any contributions the Committee or Members may wish to make at any time throughout the course of the Review.

The Retail Banking Review team has commenced its work and it is currently in its research phase. In addition, plans are well advanced to undertake a survey of consumers in Q1 2022 to ascertain their experience and perceptions of the retail banking sector in Ireland.

The public consultation process, which will follow on from the completion of the survey, is expected to commence in early Q2 2022.  This process will enable members of the public and stakeholders to make submissions on issues that fall within the Terms of Reference of the Review.

Separate to the public consultation, the Review team has already contacted a wide range of stakeholders (more than 100 in total) to draw their attention to the Review and to welcome submissions on issues that fall within the Terms of Reference at any time using the dedicated mailbox (bankingreview@finance.gov.ie).

Question No. 359 answered with Question No. 325.