The Central Bank is being told it should have gone further in criticism of other banks yesterday.
In a hard-hitting address, the Director of Credit Institutions and Insurance Supervision, Fiona Muldoon, told the Irish Banking Federation that the industry has not been humbled by the crisis, and is still lacking a culture of leadership.
Ms Muldoon also accused the sector of failing to clean up the "milk spilt in poor lending".
However, financial commentator Eddie Hobbs said the Central Bank should get even tougher.
Mr Hobbs said: "We see families who have been living terrified for years now under the sword of Damocles, where it is a consistent extend and pretend that the banks are not dealing with the issue.
"What the Central Bank should have said yesterday, it should have made a clear statement that it is going to force the banks to engage with the insolvency process and not to use their veto except in extreme circumstances."
