Interest rates - Overcharging endangers businesses

IN one way or another, the Irish banks have a long and regrettable history of overcharging their customers.

From mortgage repayments to credit card charges or overcharging on management fees, the repercussions can be both costly and deeply worrying for borrowers.

Technical failures are usually blamed when things go wrong, a scenario illustrated by the Ulster Bank catastrophe, which demonstrated in unprecedented fashion what havoc a computer anomaly can wreak.