The Central Bank of Ireland has concluded a long-running inquiry into the Irish Nationwide Building Society (INBS), resulting in significant penalties for former executives. John Stanley Purcell, a former board member, has been fined €130,000 and banned from the financial sector for four years due to his role in the society's governance and risk management failures. The inquiry highlighted a period between 2004 and 2008 where INBS's commercial lending practices were found to be lacking in oversight and adherence to financial regulations.

During the years under scrutiny, INBS's commercial loan book expanded dramatically from €3.59bn to €8.18bn, with commercial loans making up 78% of its total loan book by the end of 2008. The Central Bank's report detailed a culture of high-risk lending, where large sums were disbursed without proper documentation, adequate security, or necessary approvals. This reckless approach to lending was a significant factor in the society's eventual collapse during the financial crisis.

The inquiry also shed light on the broader systemic failures within INBS, including a lack of adherence to its own credit risk management policies and the absence of annual credit risk stress tests for commercial lending. Louise Gallagher, the Central Bank's head of enforcement investigations, emphasized the discovery of a pervasive culture that prioritized high-risk lending over sound financial practices. The findings underscore the importance of robust governance and risk management frameworks in financial institutions.

In addition to the penalties imposed on Purcell, the Central Bank's inquiry has led to settlements with other former INBS executives, including disqualifications and fines. The total cost of the investigation and inquiry into INBS's regulatory breaches amounted to over €24m, spanning 15 years from 2010 to 2025. This case serves as a stark reminder of the consequences of failing to uphold financial regulations and the critical need for accountability in the banking sector.

Recent revelations have shed light on the early reservations held by a close confidante of the late Queen Elizabeth II regarding Meghan Markle's relationship with Prince Harry. Lady Elizabeth Anson, a cousin of the Queen and a respected figure within royal circles, reportedly expressed doubts about the sincerity of Meghan's feelings for Harry, suggesting that the former actress might have 'engineered' their romance. These claims, brought to light by royal biographer Sally Bedell Smith, highlight the tensions that existed within the royal family prior to the couple's 2018 wedding.

According to Bedell Smith's account, Lady Anson, who was known for her close relationship with the Queen and her role as a royal party planner, initially found Meghan to be 'full of charm' and 'intelligent and thoughtful' upon her engagement to Harry. However, as the wedding approached, Lady Anson's perspective shifted, leading her to question whether Meghan was truly in love with Harry or if she had orchestrated their relationship for personal gain. 'We hope but don't quite think she is in love. We think she engineered it all,' Lady Anson is reported to have said.

The biographer also recounts Lady Anson's concerns about the dynamic between Meghan and Harry, noting that Meghan's intelligence and strength could overshadow Harry's more subdued personality. 'Meghan is clearly brighter than Harry, but she has to be careful not to overshadow him,' Lady Anson allegedly remarked. These comments reflect the broader unease within parts of the royal family about the couple's compatibility and the potential challenges their union might bring to the monarchy.

In response to these claims, a spokesperson for the Duke and Duchess of Sussex has declined to comment, while a source close to the couple dismissed the allegations as 'just gossip.' Nonetheless, these revelations offer a glimpse into the private discussions and concerns that surrounded one of the most talked-about royal weddings in recent history, underscoring the complexities of integrating a Hollywood actress into the centuries-old traditions of the British royal family.