Oireachtas Joint and Select Committees

Thursday, 7 December 2017

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

Matters relating to Tracker Mortgage Examination and Consumer Protection Framework: Discussion

9:00 am

Photo of Kieran O'DonnellKieran O'Donnell (Fine Gael) | Oireachtas source

With all due respect, Ms Goggin has a remit of consumer protection and competition. She cannot sit on the fence on this one. There are consumers out there at the moment who are coming to us and we can see the mortgage rates. What was done with the trackers was disgraceful and that is being looked at by the Central Bank as we speak. However, we have a current, real-time rip-off of Irish customers in terms of the mortgage rates being charged vis-à-visthe European rates. In terms of providing certainty around that area to consumers and protecting their interests, surely there is an onus on Ms Goggin, as CEO of the Competition and Consumer Protection Commission, to carry out a review to ensure a cartel is not in operation.

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