Kieran O'Donnell (Limerick City, Fine Gael)
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I am a bit perplexed. How could a moneylender charge nearly 300% in interest on a loan? Mr. Sheridan has indicated that, in effect, all loans are repaid and many moneylenders are giving out cash reserves rather than money which they have borrowed. How can some of these not make a profit? If a model is to be built to lend money to people who cannot access it elsewhere by looking to make a profit, would it not be better to close the moneylenders and change the market in order that people can access money from institutions like credit unions or others where consumers would not pay crazy money? It is a valid question.