Vast slew of public settlements now due

The Central Bank could ramp up enforcement cases before the end of the year

Last Monday, KBC Bank Ireland was fined €1.4 million and reprimanded for breaches of the code of practice on lending to related parties 2010, and the code of practice on lending to related parties 2013 over a period of almost three-and-a-half years by the Central Bank.

This is the first enforcement action brought by the Central Bank against a credit institution for breaches of the code. The breaches were admitted by KBC.

The ...