Readers Blog: Central Bank forgiving of regulatory failures

While surfing through the Central Bank of Ireland’s website, I found it highly surprising that our competent authority for regulation appears to have a pretty soft view of banks failing in their regulatory obligations.

What is also a bit of a shock, is that none of the auditors who are supposed to ‘audit’ these banks have not been brought to task.

Furthermore, the Central Bank appears to be very forgiving. Indeed, it seems standard protocol for the Central Bank to give up to 30% of a discount off their fines to the banks for their own failures.