Government Bank Friendly Policies Questioned by MEP

The announcement that the Bank of Ireland is to make banking significantly more difficult for customers and especially for older people, and those living in rural areas, emphasised the expanded role which credit unions and post offices must be allowed to play in the financial services sector.

This was the view of Independent MEP Marian Harkin when she responded to the decision of the Bank of Ireland to withdraw lodgement and withdrawal services to retain customers.

“This is a shocking and barefaced profit inspired action which is almost deliberately designed to make life more difficult for older people and rural dwellers”, she said. It was a recipe for encouraging attacks on older people having to use ATMs services and had no regard for the difficulties that would be involved for older people required to make electronic lodgements.

“Once again the contrast arises with the not for profit credit unions who wish to service their communities but, for unexplained reasons continue to face increasing restrictions in their operations from Government”, Marian Harkin said.

The latest move by the Bank of Ireland further emphasised that the Government’s bank friendly and anti credit union policies were totally unacceptable and that the unnecessary regulations, due to be implemented in the near future, should be reviewed as a matter of urgency”, Independent MEP Marian Harkin concluded.