AIB Auditor Says Regulator Knew of Charges

international | anti-capitalism | other press Tuesday March 24, 2009 18:20 by Michael Gallagher libertypics at yahoo dot ie

More Shit For The Fan

Former AIB internal auditor Eugene McErlean has said the Financial Regulator knew about overcharging by the bank in 2001, but had later given the false impression that it only became aware of it in 2004.

http://www.rte.ie/news/2009/0324/aib.html

Mr McErlean told the Oireachtas Committee on Economic Regulatory Affairs that the Regulator had investigated the issue in 2002, but had failed to act to protect consumers.

He said that three years later, in 2005, the Regulator had failed to inform an Oireachtas inquiry about the investigation into the matter