Oireachtas Joint and Select Committees

Thursday, 19 October 2017

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

Engagement with the Central Bank of Ireland

9:30 am

Photo of Michelle MulherinMichelle Mulherin (Fine Gael) | Oireachtas source

It is gone from me. The concern is that, while the issue of individuals' loans is in focus and being discussed by us, there has been considerable abuse by the banks of their position of power in negotiating terms and conditions, unilaterally changing interest rates and encouraging people to switch financial products to their detriment. However, financial considerations and the fact that they have little recourse to remedy the situation means that SMEs must go to the courts. Are the witnesses satisfied that adequate mechanisms are in place to assist SMEs that have legacy issues with the banks?

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