Donohoe: New 'broad-ranging' banking review will consider consumer interests

The review will also consider the implications for the so-called fintech and digital transaction providers are playing in disrupting traditional banking.

Minister Donohoe said the review will also weigh any submissions on the caps on bankers' pay in the context of difficulties of attracting staff into the industry. He said he had no plans to change banking pay remuneration. File Picture: Julien Behal No Fee

The Government is putting together a panel for a "broad-ranging" review that will consider consumer interests into the way the banks deal with their mortgage and small business customers.

Finance Minister Paschal Donohoe said the review, which will take 12 months, will focus on retail banking - current accounts, saving accounts, consumer and small business credit - as well as look at ways to open up the mortgage market and to try to learn from what other small countries are doing.