Brendan Burgess
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Central Bank refers ex-PTSB CEO Guinane for inquiry in first individual tracker case
PTSB was first bank to be fined in relation to its involvement in industry-wide scandal
The Central Bank is setting up an inquiry into former Permanent TSB (PTSB) chief executive David Guinane for suspected regulatory breaches in relation to the lender’s role in the tracker mortgage scandal, The Irish Times has established.
Very interesting. In most cases, the company or individual reaches a settlement agreement with the Central Bank and so no such inquiry is needed. Guinane clearly decided not to reach such a settlement agreement, so now the CB is going to have to set up another farce of an Inquiry. They have one ongoing for years against Fingleton and other Irish Nationwide staff. But they decided not to continue against Fingleton due to his age and health.
The last time they were asked, the CB refused to say how much the Inquiry into the Irish Nationwide has cost so far. I went down to watch it and there were multiple sets of Senior Counsels and others in attendance.
This might be a simpler Inquiry.
Brendan