Another smelly can of worms in the Irish banking system is being poked to see what falls out.
Earlier this week Allied Irish admitted to "incorrect reporting of missed repayments by customers, which made their credit records look worse than they actually were" and apologised to 12,000 affected customers.
It seems AIB had been supplying incorrect information to the Irish Credit Board for six years
THE DATA Protection Commissioner will extend its investigation into the misreporting of customer arrears details by AIB to see how it and the other main Irish lenders reported restructured loan cases to the Irish Credit Bureau (ICB).
Deputy commissioner Gary Davis said AIB may have misreported arrears details for another 5,000 customers who were in financial difficulty and had their loans restructured to allow them to make some form of repayments.
http://www.irishtimes.com/newspaper/...321888589.htmlThe commissioner intends to widen its investigation into the reporting of arrears cases by AIB to the other major Irish banks and the country’s largest credit unions.
Mr Davis said the commissioner would start examining the reporting to the ICB by Bank of Ireland, Permanent TSB, Ulster Bank and the credit unions next month.
“We are going to have to go broader because there is no reason to believe that if the error happened at AIB, then it could not have occurred elsewhere,” he said.