Banking campaigner says there’s ‘huge negativity’ toward competition

A Sligo member of a group campaigning for banking reform in this country says he’s found there’s huge negativity toward creating competition in the market here.

Seamus Maye is a member of the Public Banking Forum of Ireland, which has submitted comprehensive reform proposals to the Department of Finance.

Mr Maye has been calling for the introduction of a community banking system that supports small and medium business.

He says this could be easily done here because of the presence of credit unions and post offices.

It’s a system similar to the Sparkasse bank in Germany, which claimed this week there is political resistance to it entering the market here in Ireland.

Mr Maye has been telling Ocean FM News of his group’s work and the reaction he’s found.