Ireland needs community banking and financial sector overhaul, say TDs

Finance Minister Paschal Donohoe: Government and opposition TDs called for an overhaul of the financial sector in Ireland and for the introduction of community banking.

Community banking must be introduced across the country as the future of the sector should not be left up to politicians and senior financiers, the Dáil has heard.

The decision of Bank of Ireland to close branches, the €4.13m fine imposed on stockbroker Davy for breaching market rules, and the AIB's acquisition of Goodbody stockbrokers were all raised with Finance Minister Paschal Donohoe in the Dáil.