ISME wants freeze on bank charges for 2 years

ISME, the Irish Small & Medium Enterprises Association, wants Finance Minister Brian Lenihan to impose a freeze on all bank charges for a two-year period to prevent the banks from using their customers to fund the cost of the State-sponsored guarantee scheme.

“The Banks have for years been taking advantage of their small business clients by gorging on excessive bank charges to enhance their profit margins, said ISME chief executive Mark Fielding.

“A recent ISME report confirmed that 22% of businesses have been exposed to additional bank charges over the last 12 months alone. There is no way that we will countenance the banks recouping their greed-induced losses by taking advantage of small businesses that are already being decimated in the competitive marketplace”.