Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

The issue I am concerned about is the owner of the loan who is not to give instructions. I would have thought that the owner of the loan, when about to engage a credit servicing firm, would lay out careful parameters at the beginning and that once the credit servicing firm took over its hands would be tied by these instructions. I accept the Minister's point that during the course of that credit servicing agreement the owner is not to give instructions either to take or not to take action. It has given its instructions in the contract when appointing the credit service firm. The real power the owner of the loans or the portfolio has is that it can, I presume, by contract, remove the credit servicing firm and appoint a different credit servicing firm that might be more amenable to following its instructions.