Oireachtas Joint and Select Committees
Wednesday, 29 January 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Report on Licensed Moneylending Industry: Central Bank of Ireland
3:45 pm
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
Mr. Sheridan mentioned that APR rates were at or could cap out at 200%. It is an astronomical figure. Ireland entered the troika bailout programme because we could not get money cheaply, namely, below 8.5%. The affordability level of these interest rates indicates a worrying return. Of the 360,000 loans, what percentage have been completed in full? Have almost all of them been repaid?
No comments