The IBOA general secretary, Mr Kieran Ryan, has called for a code of ethics for the banking industry. He said such a code was essential, not only to protect customers but for the future viability of Irish banking.
Speaking at the union's conference on Saturday, he said the industry had been disgraced "by a small number of individuals, who either did not know the meaning of the word integrity, or else were so consumed by greed that they wished to ignore the normal decent standards of integrity and probity which have traditionally applied in our industry".
He added that "the reputation and integrity of the banking industry is its stock in trade". It was vital that this be restored.
Mr Ryan said that the offshore accounts and "Form F arrangements" were tax evasion that "could not be stood over by anybody".
The decision to reduce the debts of prominent politicians "particularly those of the Rottweiler variety, is a commercial judgment for which they [banks] can be criticised, but it is not dishonest".
However, "for a bank to load interest charges and to add fees which are inappropriate is dishonest; pure and simple, it is theft." No additional charges could be justified, Mr Ryan said, unless they had the prior knowledge and consent of the client.
It was ironic that many of those involved in these practices in the past had been pensioned off while IBOA members had to face "all sorts of inquisitions".