Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Mr. Crowley replied "Of course" when I asked if the bank was going to apply the code of conduct on the transfer of mortgages. The code, which has been in place since 1990, is clear. It is voluntary and it is up to the bank whether to apply it. Mr. Crowley has told this committee that he will apply it. The former Minister for Finance believes that every bank should apply it and, interestingly, made that statement in a written response to the current Minister for Finance when he tabled a parliamentary question on the matter some years ago.

The code of practice on the transfer of mortgages states very clearly that no bank should transfer a mortgage on residential property without the written consent of the borrower. It then stipulates exactly what the bank must do in relation to written consent, the undertakings that must be given, the information that the bank must provide if the individual does not give written consent, the interest rates and addresses all of these matters. Is Mr. Crowley still of the view that the bank will, of course, apply the code of conduct?