Central bank restricts lending at half of Ireland’s credit unions
External auditors appointed by central bank to inspect small credit institutions
The Central Bank of Ireland has unveiled the names of accounting firms appointed to audit the country's numerous credit unions, nearly 50% of which are currently restricted in how much they can lend due to concerns about the sector's lending practices.
A total of 183 Irish credit unions – almost half of the total – have restrictions on their lending, a central bank spokesman said. Of these, 17 can lend sums of €40,000 or more, with the others more firmly restricted. Credit unions wanting a
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