McGrath Queries Role Of “Public Interest Directors”

Independent TD Mattie McGrath has questioned the role of the Public Interest Directors in our State Funded Banks and how they are actually representing and protecting the taxpayer.

In a Parliamentary Question to the Minister for Finance, Deputy McGrath has asked what is the role of the Public Interest Directors in the state funded banks; how exactly are they representing the taxpayer; what actions can they take/ have they taken when a taxpayer has a grievance with their bank and what actions have they taken to review and reduce the remuneration and pension packages of bankers in the best interests of the taxpayer. Deputy McGrath also raised the matter in Dáil Éireann.

“These directors have been appointed by the State to serve the interests of the state and to protect the taxpayer. They are being paid large sums to “protect the interests of the state” yet there is absolutely no evidence of this happening” said McGrath.

“The bankers are still receiving massive remuneration and pension packages and these directors are doing nothing to prevent this. How exactly are they serving the best interests of the taxpayer if taxpayer money is still being used to pay highly excessive salaries while ordinary citizens continue to be subjected to austerity” asked Deputy McGrath.

Deputy McGrath claimed that he is still receiving complaints about how banks are harassing customers who are struggling to meet payments on a daily basis and how the banks are still difficult to deal with. “What role is the “public interest director” playing in these circumstances” asked McGrath.

“If these Public Interest Directors are not serving the best interests of the taxpayer, what is the point in paying more directors salaries? I am calling on this Government to ensure that the public interest directors either fulfil their role or step aside in the “best interests” of the taxpayer” concluded McGrath


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