Banking: a charter for radical cultural change

Banking: a charter for radical cultural change

In the wake of the tracker mortgage scandal, unethical banking practices will continue to dog the sector, unless the state acts before it’s too late

Ed Sibley, the deputy governor of the Central Bank, recently called for a “radical cultural change” in the banks, echoing similar remarks from governor Philip Lane last December. The immediate catalyst for the statement is the tardiness with which the banks have addressed the tracker mortgage scandal, which was unearthed around two years ago.

Bank scandals should come as no surprise to the Irish public. Since 1990 awful revelations have periodically emerged about individual banks,...

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