Bankers face sanctions if they don’t co-operate with inquiry

Finance Minister Michael Noonan has warned that bankers who fail to co-operate with a parliamentary banking inquiry face sanctions.

His comments came as Fianna Fáil admitted it had failed to properly regulate the sector during the financial crash and that former government members would co-operate with an inquiry.

As more revelations emerged yesterday about executives’ taped internal conversations, Mr Noonan called on former Anglo Irish Bank chief executive David Drumm to co-operate with an inquiry.