Ms Lorraine Corcoran:

On the regulation side, the "It Makes Sense" loan is a really niche product aimed particularly at cash social welfare recipients. We worked very closely with the regulator, the credit union representative bodies and individual credit unions to see what policy changes needed to be put in place. We also worked with the regulator to ensure regulations were adhered to. For example, a person with a default history can avail of an "It Makes Sense" loan. Such things must be considered and those conversations are happening, which is great. If they need to be wider, we have the right people around the table. That is the important aspect of introducing a cap, declaring what is the ultimate cap and bringing it in on a stepped basis. We can then work with all the stakeholders to ensure these different pieces are put together and work for potential borrowers.