Banks retain veto over insolvency deals, claim opposition parties

Banks will still have a veto over the bulk of personal insolvency deals, despite Government claims to have changed the balance of power, opposition party TDs have warned.

As Justice Minister Frances Fitzgerald unveiled a revamped insolvency scheme, the Coalition was accused of failing to live up to its promises.

Fianna Fáil and Sinn Féin expressed concern that people in mortgage arrears would still be subject to the diktat of a bank.