Central Bank governor facing questions over AIB scandals

The governor of the Central Bank is due to appear before the Oireachtas finance committee today to answer questions about the recent scandals at AIB.

John Hurley will be asked to explain why the Central Bank failed to detect the overcharging of certain customers or the existence of operations like Faldor, an offshore investment scheme.

AIB admitted last week that a number of former executives had breached tax laws by investing in the scheme.

The Central Bank was responsible for regulating the banking sector before the establishment of the Irish Financial Services Regulatory Authority (IFSRA) last year.