11th June 2003

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Dáil Committee to call in big banks on proposal of Caoimhghín Ó Caoláin

The  Dáil  Committee  on  Finance  and  the  Public Service has agreed to invite representatives of the major banks and other financial institutions to attend an early  meeting  of  the  Committee  in  order  to  address the Members' concerns regarding  the  Banks  and  Building Societies implementation of the most recent European  Central  Bank  interest rate cut, other interest rate levels currently applying,  bank  charges  and  the  closing  of branches throughout the country. Concerns  about  the  absence of real competition within the sector will also be addressed.  Deputy Ó Caoláin said:

"I welcome the agreement across all parties represented on the Committee to call in the big financial institutions. They have major questions to answer about how their  very  profitable  businesses  treat  customers.  I  look  forward  to the opportunity to question them."  ENDS

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