Post by Papa C. on Jun 16, 2008 10:25:26 GMT
The financial regulator keeps prices high and makes sure businesses keeps prices high. Like a cartel. This 'financial capability' study was obviously enacted to see how much money financial services can steal off the public and how much money the public are capable of paying so that the banks and the Government can get more money off of us. The Government have the capability to look up anyone's bank account and keeping money in banks is a great way for the Government to know how much everyone has, what they spend it on and where they get it from. It's all about control.
1 in 6 don't have bank accounts
16/06/2008 - 07:16:37
One in six Irish people does not have a bank account, a national survey has found.
The findings by the Financial Regulator also showed that one-third of respondents have problems keeping up with bills.
The Financial Capability Study interviewed a sample of 1,500 people across the country between November 2007 and February 2008.
The survey also found that 27% do not know how to make a complaint against a bank or financial institution.
The Financial Regulator's consumer director Mary O'Dea said: "This is the first study of its kind in Ireland and it will help us to inform and educate consumers to make them more financially capable."
Commenting on the main findings, Ms O'Dea said the 17% of people questioned may not have bank accounts of low income levels, cultural and ethnic issues, disability or geographic isolation."
She added: "Banks and building societies in Ireland should consider how they can make their products more suitable and accessible to low-income consumers, such as providing low-cost, no-frills bank accounts."
Having a bank account is increasingly important for full participation in society, according to Ms O'Dea.
"The Financial Regulator is working to foster full access to financial services," she added.
The survey featured questions about day-to-day money management, financial planning, use of financial products and ways to get money advice.
The findings also showed that 44% of respondents were not prepared to take any risk with their savings and investments.
Consumers are more likely to shop around for financial products like mortgages and life insurance rather than credit cards and current accounts.
Established in 2003, the Financial Regulator helps consumers make informed decisions on their financial affairs.
