Let’s be clear: the banks did fail and must do better

The Central Bank said that it is continuing to proceed with enforcement activities against a handful of banks, which will likely result in significant fines

The Central Bank’s report on the behaviour and culture of the Irish retail banks offers a snapshot that is both damning and unsurprising. A decade after the financial collapse, the leading figures in Irish banks are still firefighting, operating in a crisis-era mindset and reverting to “command and control” style leadership.

The losers, according to the Central Bank, are the customers. However, it is the line about the “over optimism” of their ability ...