AIB committee to consider FX inquiry response

Allied Irish Bank said today the inquiry into foreign exchange charging issues at the group has now been completed.

Allied Irish Bank said today the inquiry into foreign exchange charging issues at the group has now been completed.

The inquiry, which was undertaken by Deloitte and independently assured by former Comptroller and Auditor General, Ms Lauri McDonnell, was prompted by revelations earlier this year that thousands of customers were overcharged when using AIB's foreign exchange services.

The bank has already begun refunding customers who were overcharged for transactions as far back as 1995.

In a statement today the bank says a committee has been established within the bank to determine its response to the outcome of that inquiry.

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It said the committee's remit will include the consideration of "any appropriate disciplinary proceedings".

"Such proceedings would be conducted in accordance with the Bank's disciplinary code and would ensure that individuals were afforded full rights to due process," it said.

The Bank said It was not appropriate for it to make any further comment at this stage.