The Clare Champion Clare news, sport, entertainment and local notes
TWO Clare TDs have tackled the Finance Minister over the impending departure of two major banks from the Irish market. Both Ulster Bank and KBC Bank are to close Irish operations, prompting concerns for tens of thousands of customers, especially those who are older and less likely to be able to avail of online switching services. Addressing Minister Paschal Donohoe, Deputy Michael McNamara accused the Department of Finance of facilitating an “emerging duopoly” in the banking sector. “A local businessman said to me recently they [the banks] will do what they want and I had to correct him and say they are already doing what they want,” the Independent TD told a Dáil debate on policy and legislation. “In theory, we have supervision from the Central Bank, but in reality those two banks have been allowed to do what they want, and it will hurt rural economies. It is already hurting them. The supervision from the Central Bank is supposed …
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