Internal auditor in line for apology

An internal auditor at Allied Irish Bank (AIB) is set to receive an apology
from the Irish Republic’s Financial Regulator because of the treatment he
received when reporting problems at the bank.

The Irish
reports that Eugene McErlean will receive the apology from Matthew Elderfield,
head of financial regulation at the Central Bank of Ireland.

McErlean, group internal auditor at AIB,reported problems at the bank in 2001
and 2002 but claims the regulators failed to act.

The whistleblowing related to overcharging at the bank. McErlean was removed
from his post at AIB in 2002 at roughly the same time as he was in discussions
with the regulator.

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