Galway Bay fm newsroom – A local senator is calling for a national debate on public banking in the wake of Ulster Bank’s decision to withdraw from the republic.
Green Party Senator Pauline O’ Reilly told the chamber that we have a banking system that operates at the whim of profit.
She pointed out that Ulster Banks UK parent company – NatWest – made £64m in profit last year.
Senator O’ Reilly also referenced the sale of Ulster Bank’s loan books and said people are being caught in the middle of this for-profit system of banking and saving
She further raised the loss of vital community banking services in many communities nationwide due to the closure of post offices.
Senator O’ Reilly argued a national discussion is needed about the next step for banking in this country..
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