Dublin: The Oireachtas European Scrutiny Committee has warned of the potential for higher banking charges for consumers in the wake of new EU rules enforcing financial institutions to reach a level of keeping €3bn on deposit — or 1.5% of eligible deposits — by 2020 (currently Irish banks keep 0.2% of all deposits in the deposit protection account, equating to €600m).

THE fight against cross-border crime could be improved through the greater harmonisation of legal and judicial practices across EU countries, according to a new cross-party report.

Two new EU plans which aim to tighten up consumer protection in the case of bank failures and fraud are to be discussed at an Oireachtas Committee meeting today.