Oireachtas Joint and Select Committees

Wednesday, 26 March 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Draft Heads of Central Bank Bill 2014: Department of Finance

4:05 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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What will happen when ICS transfers its mortgage and home loan assets to Bank of Ireland? There is potential for an unregulated third party to purchase those loans, in which case we will have a repeat of what is already under way in terms of mortgage holders no longer being protected by the Financial Ombudsman and the code of conduct on mortgage arrears. Has that issue been considered or is it not relevant to the current discussion?