Charlie Weston today has a strangely familiar article about AIB reintroducing their 7% regular savings account having previously reduced it to 3%. The story is available here. Last weeks almost exactly similar story is here.
He does add this week a dubious fact suggesting that it was down to consumer pressure that this change was made. Now, can you ever, in the history of Irish banks, remember when the banks actually did something under pressure from consumers. Damn it, banks hardly even bend to the will of the Financial Regulator and the Department of Finance, never mind the consumer.
Charlie goes on to tell us that though this supposed “people power” was denied by AIB, the change was instituted by AIB because the “people up and down the country” caused a “mini-revolt” which caused the bank to “bend to the will of the little guy”.