Following their sit in at the Friends First Headquarters in recent weeks, Independent TD Mattie McGrath has met with the Chairman of the Irish Banking Federation, Mr. Pat Farrell along with representatives of the Farming Contractors of Ireland Association to discuss the upholding of the Central Bank of Irelandâ€™s Code of Conduct for Business lending to SMEs by their member banks.
The Irish Banking Federation (IBF) is the principal voice of the banking and financial services sector in Ireland and the aim of the meeting was to insist that members of the IBF comply with the Central Bankâ€™s code of conduct and to ensure that no other families are left traumatised by repossession agents.
During the meeting, Mr. Farrell gave commitments that he would raise the matter with all of his member banks to ensure that all banks comply with the code of conduct.
â€œWe were very pleased with the commitments given by Mr. Farrell during this meeting and we hope that his member banks will now begin to take this matter seriously. Nobody wants a repeat of what happened in Wexford in recent weeks and we have to ensure those in debt are not subject to â€œout of hoursâ€ raids on their propertyâ€ said Deputy McGrath
Also in attendance at the meeting were Wexford TD John Browne along with Timmy Oâ€™Brien, Patrick Farrelly and Richard White of the Farm Contractors of Ireland Association.
A meeting will now be arranged with the Central Bank of Ireland and those in attendance at the meeting today to discuss the measures being taken by the Central Bank to ensure compliance with their Code of Conduct.
â€œThere is simply no point in the Central Bank having a Code of Conduct in place if it is being ignored by financial institutions. This needs to be taken seriously and we look forward to meeting with the Central Bank to address this matterâ€ concluded McGrath