One of the country's oldest financial institutions, it was originally called the Irish Industrial Building Society; it changed its name in 1975 when it had just five staff.
[3] "High risk and sloppy lending practices at the Building Society were reported to the Central Bank of Ireland by external accountants over a long period but did not change its behaviour", according to the management team which took over in 2010.
[4] A letter which the Central Bank of Ireland received concerning the legality of the loans by the building society to Sean FitzPatrick had "gone missing".
[12] Management at Irish Nationwide used to arrange meetings with the Central Bank of Ireland for late on a Friday afternoon, knowing that their staff would not want for the encounter to last for more than an hour because it would nibble into their weekend.
"[17] Former banker and British regulator, Scott J Dobbie, prepared a report in August 2012 following Nationwide's collapse, finding that the Financial Regulator "understood and delineated the critical INBS issues well before they caused trouble, but equally failed fully to use its powers under the [Building Societies] Act by pursuing these issues, being apparently mollified by bland assurances" and the Central Bank "did not meet standards which might be reasonably expected".