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
Michelle 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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