“A number of very, very damaging issues, including tracker mortgages, inflicted a huge blow to the trust of the Irish people in the banking system,” said Colin Hunt, chief executive of Irish bank AIB, "and we are still grappling with the consequences of that today.” His remarks were made at a launch event for a new book on accountability in financial services, New Accountability in Financial Services: Changing Individual Behaviour and Culture.
Ireland is in the midst of legislating the Individual Accountability Framework (IAF) Bill, which is intended to deliver greater levels of personal accountability for banking mishaps, and clarity regarding senior leader responsibilities, which is hoped to promote better outcomes across the sector.
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