Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

There is a way around it. We have had situations where because of regulations and restrictions in credit unions people have moved towards moneylenders. We must ensure this legislation applies to moneylenders, as it does to any other regulated financial institution. It is very hard to dispute that the €2,000 limit above which lenders must check the credit worthiness of borrowers means that moneylenders are exempt from that portion of the Bill. Moneylenders' loans are, on average, below the €500 reporting limit. We could put up our hands and say we have drafted legislation which, although very welcome and supported by me, does not cover moneylenders in these two main sections.