Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

To date, all of the feedback and evidence I have seen points to the effective operation of the Act. I imagine that the key provision the Chairman is pointing to in the Act is that which provides the protections available to the person associated with the loan are not changed if the owner of the loan changes, particularly if it moves from a bank to an entity that is not a bank. It has not been flagged to me to date that the cap the Chairman referred to is an issue. However, on foot of the Chairman raising it, my Department will now examine the matter. I know that conversations that happen between customers and banks can be very difficult at times but we have expectations, and I, as Minister for Finance, have expectations, regarding standards that should be met when those discussions should be happening. I am satisfied that the protection that is currently in place is robust but I will seek a report on the cap issue to which the Chairman referred.