Oireachtas Joint and Select Committees

Wednesday, 23 February 2022

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021: Committee Stage

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

Yes, when people had applied for a loan. But they did not specifically list in Schedule 5 the use of it for the central credit register. That is it. They want to make sure that they have the ability to include it on their central credit register also, under section 5. They have the authority but they are being specific. They want to be able to include it here. It is not part of the loan authorisation. It is part of data verification, if the needs arise. If a wrong PPS number comes in they can verify it. The verification method was not part of the loan application process. It will be part of the gathering of information that the Central Bank is doing with the information coming into it, so they have a way of verifying the information. It is not part of the loan agreement.

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