Cowen: Overcharging should never have happened

Minister for Finance Brian Cowen has said today's IFSRA report into overcharging at AIB highlighted a number of practices and events which should never have been allowed to happen.

The Irish Financial Services Regulator accused certain AIB staff and managers of failing to identify and disclose the overcharging when the opportunities arose and of failing to notify the regulator when they eventually took action to reduce charges.