Culture Board to set up a round table to "reflect on the cultural issues in the post-tracker banking industry."

[Brendan Burgess]

From the Irish Times

the IBCB has promised to hold a round-table event in the coming months, bringing affected customers, regulators and banking executives together to “reflect on the core behavioural and cultural issues we consider must lie at the heart of the post-tracker banking industry in Ireland”. Do we really need another talking shop?

 

[SaySomething]

No, no we don't. The Banking Culture Board is a talking shop in itself. Mind you, I wonder which customers they will invite to speak? It'd be interesting to be a fly on that wall.

 

[Brendan Burgess]

Padraic Kissane is on the Culture Board so it's likely that he would suggest some customers.

I might suggest some of the Prevailing Rate cohort.

Brendan

 

[NoRegretsCoyote]

The whole idea of a culture board was and is silly.

The government doesn't need to be in the culture business. It needs to be in the supervision and enforcement business.

I really don't care what bankers think about.

I want:

1. Heavy consumer protection with an Ombudsman with strong powers
2. Intrusive supervision by the Central Bank with use of all powers including fines where necessary

 

[Brendan Burgess]

The government doesn't need to be in the culture business.

It's not.

The Irish Banking Culture Board (IBCB) was established in April 2019, and is an independent industry initiative, fully funded by the five retail banks currently operating in Ireland (Allied Irish Banks, Bank of Ireland, KBC Bank Ireland, Permanent TSB & Ulster Bank).