ILCU seeks public hearing

Maynooth Credit Union and the Irish League of Credit Unions (ILCU) is trying to force the Central Bank to hold a hearing into its regulatory behaviour in public.

The ILCU sought leave from the High Court in July to mount a legal challenge to regulatory restrictions imposed by the Central Bank on the Credit Union movement.

The judicial review has been granted to Maynooth and the ILCU who claim they are “deeply concerned about the coherency and proportionality of the Central Bank’s decision-making in relation to regulatory directions”.