Banking inquiry witnesses face jail if they fail to tell truth

Bankers, politicians and civil servants who fail to truthfully account for their actions to the forthcoming banking inquiry face fines of up to €500,000 or a possible prison term.

The inquiry has been overshadowed by the controversy over the government’s decision to add two extra members to ensure it has a majority over the opposition.

But a briefing note prepared for TDs shows that bankers, politicians and other witnesses appearing at the banking ...