Billy Kelleher (Cork North Central, Fianna Fail) | Oireachtas source

The Minister has said the banks sucked the lifeblood out of the country. She is now setting out a code of conduct for the banks to suck the lifeblood out of families. There is no independent oversight. She spoke about sustainable solutions and resolution mechanisms, but the banks will be deciding what is sustainable. Families will have no role in defending or arguing their case. The bank will present the borrower with what it views as a sustainable solution. It is unacceptable that we will not have independent evaluation or oversight of what banks offer with regard to sustainable solutions. Of course, we want the banks to provide sustainable solutions, but they must be sustainable for the families concerned. That is my difficulty with the code of practice. It does not cater for families in significant distress and under huge pressure, both financially and psychologically-----

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