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

4:15 pm

Photo of Michael CreedMichael Creed (Cork North West, Fine Gael) | Oireachtas source

I have a final question on the matter. The current legislation allows moneylenders to give top-up loans on existing debt where there are default payments but credit unions are exclusively precluded from doing so. Is there a legislative difficulty in terms of regulations? Can we make it easier for the credit union movement to compete in a realistic fashion in this business?

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