Round Up: Financial Regulator launches new rules on lending
The Financial Regulator, Matthew
Elderfield, has launched a public consultation on new rules for lending to
related parties by banks and building societies.
He told a meeting of the Dáil Public Accounts Committee that this was an area that had been subject to abuse and excess in Ireland.
He spoke of one notorious case in which directors' loans were designed to avoid detection and later clarified to the meeting that this was the situation at Anglo Irish Bank that is currently under investigation.
