Overcharging fallout leads to the High Court

An anonymous tip-off to the Irish Financial Services Regulatory Authority (IFSRA) on April 20, 2004, led to the unravelling of a sequence of events that are now the subject of a High Court action.

A report last December by IFSRA found that AIB had failed to notify the then regulator, the Office of the Director of Consumer Affairs, of margin increases on foreign exchange transactions dating back to 1995. The report resulted in ...