Tough laws flagged to stop repeat of scandal

LAWS to prevent a repeat of the loans scandal which rocked Anglo-Irish Bank were signalled yesterday.

Chairman of the Financial Regulatory Authority Jim Farrell admitted failures in policing the banking sector as he said tougher legislation may be needed.

Mr Farrell told the Oireachtas Finance Committee there had been a breakdown in trust at Anglo and that with hindsight things should have been done differently.