‘Government must urgently resolve banking glitches’ – Ritchie

Newry Times News Posted by
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Tuesday, March 12th, 2013
Politics

SDLP MP for South Down Margaret Ritchie has responded to reports that Ulster Bank customers had problems using bank cards and making online transactions this week, which was reported to be part of a UK-wide problem affecting the RBS banking group.

Ritchie has joined MPs to urge the government to fully commit to taking action on the FSA Report on the Ulster Bank/RBS payment crisis.

Speaking to Newry Times, Ritchie said, “Following the Ulster Bank/RBS payment crisis last year, I have been pursuing the Treasury for its response to the crisis and the actions that will be taken to ensure that banking customers are not left in the same situation in the future.

“This latest “glitch”, which is less widespread than on the previous occasion, has once again left customers in a difficult situation, and it highlights the importance of ensuring that the banking payments system is fit for purpose.

She continued, “In response to my recent representations on the Ulster Bank/RBS payment crisis the Treasury have advised that the Financial Services Authority Independent Review into last year’s incident is underway.

“Treasury Minister Greg Clark also stated that the Government was committed to a stable banking system and will consider the FSA’s conclusions and commit to taking action where needed.

“While I welcome this response by the Treasury, I am concerned that the matter has lost its sense of urgency with the Financial Services Authority and the Government. It has been nearly 9 months since the crisis and clearly, given the events of the last 48 hours, problems are still inherent in the payments system.

Ritchie added, “I would urge that the Government fully commit to taking action on the FSA’s conclusions and push for the outcome of the FSA’s report at the earliest possible opportunity. I will be tabling parliamentary questions to this effect.”


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