Central Bank plays hardball with Newbridge Credit Union
How the Central Bank fares in resolving the financial problems at Newbridge Credit Union will be a litmus test of its plan to clean up the credit union sector, writes Jon Ihle.
If the chief executive of the Financial Regulator pays a visit to your credit union, it either means you're doing something really right or something really wrong. If a whole detachment of regulators arrives with him, it's probably more than a courtesy call.
Eight years ago, Liam O'Reilly, the financial regulator at the time, took the trouble to get in a car and drive the 42 kilometres down the N7 to Newbridge to confront the...
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