The Central Bank first called for the move in 2018
New legislation has been drafted to hold senior finance figures, such as bank executives, more accountable.
The Senior Executive Accountability Regime will give the Central Bank greater enforcement powers.
The regulator first called for the move in 2018, after banks overcharged thousands of customers during the tracker scandal.
Finance minister Paschal Donohoe defended the delay, saying the new accountability rules are broader than first envisaged
The Central Bank (Individual Accountability Framework) Bill puts individual accountability at the centre of decision making w/ customers benefitting from providers that are fully accountable for the service they provide resulting in a more stable financial system for our economy https://t.co/cQUoTUgYir
— Paschal Donohoe (@Paschald) July 27, 2021
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