AIB fined record €2m by Central Bank for breaching lending regulations

AIB has been fined a record €2 million for breaches of lending regulations by the Central Bank.

It also reprimanded AIB and in a statement warned of tougher fines for breaches of regulation in future.

Finance houses can expect increased enforcement activity, based on existing powers, new powers under the Central Bank Reform Act 2010 and new powers proposed for 2011.