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Fri 07 Jul 2010Anglo unhappy at regulator's role in Quinn loan talks
ANGLO IRISH Bank believed the Financial Regulator had a conflict of interest in May 2008 in pressing the bank to reduce its loans to businessman Seán Quinn while urging it to release him from a guarantee that was affecting the financial position of Quinn Insurance.
Internal bank records dating from January 2009 – prior to the nationalisation of the bank – show that Anglo’s former management team felt that the regulator was concerned in May 2008 about potential issues with the insurer, which was also a regulated entity.
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