In order to sell Nama to its membership last year, the Green Party came up with a plan to establish an expert group that would help people struggling with personal or mortgage debt. The intention was that the group would issue recommendations on measures to assist people in debt arrears within a matter of months. The plan, which the Green leadership dubbed “My Nama”, was included in the revised Programme for Government and it looks as if it is now about to get the green light.
Posts Tagged ‘banks’
The European Payment Services Directive took effect on 1 November 2009. It removes many of the risks associated with paying by direct debit.
It says much for the news values of the Irish media that a retail bank closure entailing 750 job losses and affecting tens of thousands of people across the country gains less exposure than the resignation of a backbench TD.
Still, there is a lot of coverage of the dramatic exit of Bank of Scotland (Ireland) in the business pages, where most commentators are happy to dance on the grave of their one-time hero.
Another day, another suspected case of overcharging. Following hard on last week’s admission by AIB it had overcharged 40,000 customers, ‘senior sources’ have told The Sunday Tribune the bank is facing at least one more suspected case.
“The Sunday Tribune has been told that the AIB auditors have uncovered at least one more overcharging case and that the Financial Regulator has been informed.”
Bank of Ireland is finalising plans to launch a €1bn-plus rights issue within six to eight weeks – the first time an Irish bank has tried to raise funding in global capital markets since the onset of the credit crunch, The Sunday Times says.
The transfer of the bank’s first batch of property loans to Nama and European Commission approval of its business plan will determine the timing of the rights issue.