Oireachtas Joint and Select Committees

Thursday, 2 March 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Financial Services Ombudsman's Bureau - Strategic Plan 2017 and Tracker Mortgage Issues: Discussion

10:00 am

Photo of Maurice QuinlivanMaurice Quinlivan (Limerick City, Sinn Fein) | Oireachtas source

Mr. Deering referenced the motion of my Sinn Féin colleague, Deputy Pearse Doherty, as well as the Government position on producing legislation to tackle the six-year rule. The Sinn Féin legislation is on Committee Stage. The proposed Government legislation went through pre-legislative scrutiny but we have heard nothing about it since. There are differences in the two approaches. The Government legislation is broader in that it merges the Financial Services Ombudsman with the Pensions Ombudsman. Deputy Pearse Doherty's legislation is simply to remove the six-year rule. My view is that the committee should deal with it as soon as possible. Would the Financial Services Ombudsman welcome this change being made as soon as possible, in other words, that the six-year rule would be removed? Mr. Deering has spoken about upholding tracker cases from 2009 onwards. Every day, more and more cases are falling from the remit of the Financial Services Ombudsman because of the six-year rule. Is that the case?

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