New bill leaves banks in control, warns opposition

Banks will still have a hold over borrowers under the terms of the new Personal Insolvency Bill, the Opposition has warned.

Fianna Fáil justice spokesman Dara Calleary welcomed the publication of the bill but said there should be a review of the role it afforded the banks.

“There is a unique opportunity for the Government to break the hold the banks have over borrowers and the State, but on first reading, this opportunity appears to have been missed,” he said.