Once again AIB has ‘accidentally’ overcharged customers.
After investigating itself the bank concluded that the whole affair was just a minor incident, an accident.
The standard apology was issued and customers were assured that nobody would be out of pocket.
Except for the inconvenient fact that AIB is one of the most corrupt financial institutions in the state with a long record of criminality, which saw the theft of countless millions from customers, and the State.
Since the economic collapse in 2008 citizens have been constantly assured by politicians, government officials and bankers that a new dawn in financial regulation has arrived.
Going forward, we were told, the Financial Regulator would regulate with an iron fist, immediate and searching investigations would be conducted at the slightest hint of wrong doing, the law would be forcibly applied without mercy to protect the consumer.
With this in mind I rang the so-called new Financial Regulator this afternoon to ask about its involvement in this latest ‘accident’ by AIB.
No, (The Financial Regulator is not involved) AIB is investigating the matter and when completed and everything is resolved there would be no reason for the Financial Regulator to intervene.
We don’t’ know exactly what the situation is, it may be just a computer glitch, we don’t have a lot of information on exactly what the situation is.
We are aware that some people have been overcharged but no doubt they will be reimbursed.
So here’s the reality. The so-called ‘new’ Financial Regulator is operating in exactly the same manner as the previous regulator. That is, it’s not actually regulating at all.
The banks are still allowed to investigate themselves and if that results in the theft of millions, well tough shit, customers will just have to suck it up.