National Australia Bank, the parent company of National Irish Bank, could face fines of up to Aus $10 million (£5 million) for alleged price-fixing on credit card processing.

Court action has been instigated against the bank in Australia and The Australian Competition and Consumer Commission has accused the bank of breaching the Trade Practices Act.

Last year there was two inquiries into National Irish Bank. One inquiry found that allegations against National Irish Bank that it had charged improper interest to customers had some substance. That inquiry resulted in some £131,000 being returned to some 370 customers.