IRISH banking customers have access to less information than other EU small business sectors to compare the overall costs of repaying credit, according to the ICMSA.

THE Department of Finance was aware Anglo Irish Bank was trying to place shares controlled by businessman Seán Quinn long before the controversial deal became public, it has been claimed.

FEXCO is to purchase AIB’s stockbroking arm, Goodbody, for €24 million in an intricate deal which will see senior management at the brokerage get a 25% stake in the firm and as many as 55 staff lose their jobs.

THE Financial Regulator yesterday issued a warning to Irish businesses and consumers not to invest in British-registered Marcus Jones International.

BANKS are showing a willingness to engage with borrowers who are having difficulty paying their mortgages, according to the Central Bank and Financial Regulator.

QUINN Insurance has been told it does not have enough capital reserves to restart writing commercial business in Britain.

IRISH Life & Permanent has to raise €145 million under new funding guidelines, by May 31, 2011.

ONE mortgage holder in 20 has been unable to make monthly repayments for more than three months and experts fear the figures could be even worse.

Bank of Scotland (Ireland) is to shut down, it confirmed today.

BANKS and building societies will find it harder to repossess homes under proposals to protect mortgage holders in arrears.

HOUSEHOLDERS in arrears with their mortgages can expect a good talking-to from their lenders, if a new code of conduct for banks and building societies is approved.

It seemed incongruous that the public were being called on to rescue the banks while no provisions were being implemented to protect members of the public from the banks, if they came down heavily on individuals in financial difficulties in the midst of the current economic downturn.

A MAJOR review of the credit union sector will focus on establishing the financial position and risk profile of the credit unions, Finance Minister Brian Lenihan has said.

The Central Bank and Financial Regulator today announced the appointment of Grant Thornton to conduct an independent strategic review of the credit union sector in Ireland.

TAOISEACH Brian Cowen has stood over the bank guarantee scheme, despite the fact the Government was warned of the major risks in taking such an approach just days before it was implemented.

CENTRAL Bank governor Patrick Honohan has expressed his confidence in AIB and Bank of Ireland meeting their end of year post-NAMA funding requirement targets and, thus, passing their current EU stress tests – the results of which are due at the end of next week.

The Government has announced moves that will prevent any lender applying penalty interest to anyone in arrears on their mortgages once they enter a resolution process.

The Central Bank and Financial Regulator are suggesting measures to stabilise Credit Unions.

FINANCE MINISTER Brian Lenihan is likely to meet with opposition parties early next week to examine how to proceed with the planned formal investigation into the Irish banking crisis in the most cost-effective and efficient manner.

The Department of Finance has reiterated that it never approved a multi-billion euro loan between Irish Life and Permanent and Anglo Irish Bank.

THE head of the Central Bank Patrick Honohan has questioned the need for the Government’s planned Commission of Investigation into the banking crisis.

The two reports into the banking crisis lay some of the blame on Taoiseach Brian Cowen, saying his 2007 Budget (when he was Finance Minister) added markedly to the overheating of the economy.

THE Government is bracing itself for a torrent of blame as it publishes two reports into the banking crisis, one of which is expected to criticise Brian Cowen’s budgetary policy during the boom.

Two major reports on the causes of Ireland's banking collapse could be released by the government this week.

DISSENTING voices can be very useful in a parliamentary democracy, shaking cosy consensus and provoking debate that might not otherwise take place.

Taoiseach Brian Cowen launched an emotional defence of his political reputation today after being accused of economic treason over the multi-billion euro bailout of rogue lender Anglo Irish Bank.

OPPOSITION claims that a “legal gag” will prevent the Governor of the Central Bank from playing a role in the banking inquiry have been dismissed by the Taoiseach as just another conspiracy theory.

FIANNA FÁIL was boxed into a corner by the demands for an investigation into the banking catastrophe but, experienced political survivor that it is, it has not thrown in the towel. Yes, it has granted the demanded inquiry but it has continued to feint and weave with much of its old skill, thereby staying on its feet.

THE Government will break with tradition and will not appoint a top Department of Finance mandarin to fill the post of governor of the Irish Central bank when incumbent John Hurley steps down next September.

“I’M a fighter, not a quitter,” was the declaration from Irish Life & Permanent (IL&P) chairperson Gillian Bowler yesterday — when once again confronted with questions about her future in light of the group’s controversial €7 billion deposit with Anglo Irish Bank, which has already led to three IL&P directors resigning.

Anglo Irish Bank shares are to be suspended today after the Government dramatically announced it was nationalising the ailing lender.

IRISH financial stocks rebounded yesterday adding €3 billion after their falls on Monday.

THE Government's ongoing "culture of secrecy" in the operation of Freedom of Information legislation has been criticised by Information Commissioner Emily O'Reilly.