Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Even if a company was required to undergo a full credit examination of the potential borrower, it is the company's prerogative to proceed with the loan. The reason these companies charge exorbitant interest rates is the market they are in. They are supplying money to people who most likely should not be getting loans from them in the first place. If one could afford a loan at a cheaper rate, one would not go to these companies. People go to them because they are in trouble. I agree with the sentiment of Deputy Doherty's contribution. The Minister of State could provide 100 firewalls but if these companies think they will get their money back at any interest rate, they will charge it.