Bank heads to be held answerable

New powers are on the way to make sure bank bosses and financial executives are compelled to attend Dáil hearings on alleged bad practices.

The Oireachtas Economic and Regulatory Affairs Committee is seeking changes to strengthen its authority.

It follows the refusal of Anglo Irish Bank auditors, Ernst & Young, to appear before the committee amid the controversy over directors' loans at the bank.

Former Chairman of Anglo, Seán Fitzpatrick, has also been asked to appear at a hearing next Tuesday, but has failed to respond.