Oireachtas Joint and Select Committees

Thursday, 4 October 2018

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

Behaviour and Culture of the Irish Retail Banks Report: Central Bank of Ireland

9:30 am

Photo of Paddy BurkePaddy Burke (Fine Gael) | Oireachtas source

This issue relates to the consumer. Have the delegates received any complaint about the 25% interest rate the credit card companies are charging?

This committee had to deal with moneylenders. The issue before us is not much different from moneylending because of the exorbitant interest rates being charged. Recently, the committee heard that if post offices could get into the mortgage lending, the cost of mortgages could decrease. An interest rate of 25% is exorbitant. Has the Central Bank received complaints in respect of it?

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