Regulator bosses to respond to allegations it knew of AIB overcharging

The Chairman and CEO of the Financial Regulatory Authority will have a chance later today to respond to allegations that the Regulator knew about overcharging at AIB in 2001.

At a meeting of the Committee on Economic Regulatory Affairs in March, a former auditor in AIB, Eugene McErlean said the regulator knew about overcharging, investigated it in 2002 and failed to act.