John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

Regarding vulture funds and this European regulation, our regulatory system is being examined. I wish to express my concern about the loan protections that travel from the main lender to any of these funds. The evidence is that there is poor protection if one's loan is sold to a vulture fund. Depending on the fund to which it is sold, the level of protection can go from bad to worse. There is little protection for the consumer. I am just bringing this to the Minister's attention. We have the same problem in terms of the funds' attendance at our meetings. We have issued a further round of invitations, but none of the funds is interested in appearing before us to explain generally their activities in this country. Even the regulated agents will not appear before us in spite of the Central Bank writing to them. The public has a right to know exactly how the funds conduct themselves in Ireland and how the agents act. The receivers leave much to be desired. Is there any way of tying the receivers down in terms of their interaction with the consumer?