Credit unions bid to ‘dilute’ overhaul

A Government minister has accused the umbrella body for credit unions of trying to dilute a bill which would improve governance of the troubled sector.

Junior minister Seán Sherlock said the Irish League of Credit Unions was waging a “completely disingenuous” campaign against the Credit Unions Bill.

It comes as the Government prepares to pump an initial €500m of taxpayers’ money into the sector to plug a budget hole — a bailout that could ultimately reach €1bn.