Bank Mergers - Customers “Biggest Losers”

Independent TD Mattie McGrath has called on legislators in Ireland and the UK to examine practices by merged banks during a meeting of the British Irish Parliamentary Assembly Economic Affairs Committee this week. The Economic Affairs Committee of the British Irish Parliamentary Assembly met in Dublin this week and Deputy McGrath who is a member of the Committee has called on the committee to examine the matter of bank mergers between Irish and British banks and the practices carried out by the banks following the Mergers. The Committee has agreed to put the matter on the agenda for their next meeting.

Independent TD Mattie McGrath has called on legislators in Ireland and the UK to examine practices by merged banks during a meeting of the British Irish Parliamentary Assembly Economic Affairs Committee this week. The Economic Affairs Committee of the British Irish Parliamentary Assembly met in Dublin this week and Deputy McGrath who is a member of the Committee has called on the committee to examine the matter of bank mergers between Irish and British banks and the practices carried out by the banks following the Mergers. The Committee has agreed to put the matter on the agenda for their next meeting.

“In recent years a number of Banks operating in Ireland have been merged or taken over by their parent company and customers are often left to pay the price” said Deputy McGrath. It is not acceptable that banks can sell their loan books for 20% yet continue to show no understanding to their customers who find themselves in difficulty. Customers are being treated appallingly by banks that no longer have an interest in the Irish Economy or their Irish Customers, yet when it suits the banks, they can use the Irish situation to avoid paying taxes in their home Country.” Continued McGrath

Deputy McGrath has said that the Irish and British Parliaments need to make a joint effort to examine this matter to ensure that the Banks live up to their responsibilities in both Countries and that their Customers are not left paying the price.