Louth Td Gerry Adams has urged the banks to be more assertive with Ulster Bank

The Sinn Fein leader has decribed the continuing crisis around the Ulster Bank as ‘a major fiasco that is hurting ordinary citizens and business in Louth and across the island of Ireland.’

The Sinn Fein leader has decribed the continuing crisis around the Ulster Bank as ‘a major fiasco that is hurting ordinary citizens and business in Louth and across the island of Ireland.’

And Mr. Adams demanded that ‘the Ulster Bank give a firm commitment that no customer will be at a financial or credit loss as a consequence of this debacle.’

Teachta Adams said:

“The Ulster Bank debacle means that tens of thousands of citizens – north and south - who are dependent upon state benefits and a variety of pensions are being denied access to these.

For almost three weeks the Ulster Bank has failed to effectively deal with this issue. The Royal Bank of Scotland and Nat West in Britain have successfully resolved the computer problems that hit their services but the Ulster Bank fiasco continues.

“The failure of the bank management is causing enormous distress to individuals, families and businesses. There have been countless stories of individuals and families struggling to make ends meet with their sole sources of income cut off.

“The Central Bank, the Financial Regulator and the government need to carry out a thorough investigation into events in the Ulster Bank, identify what went wrong, and what steps were taken by the management to resolve the problems and to help customers. Those responsible for this meltdown and the failure to quickly put it right have to be held to account.