Oireachtas Joint and Select Committees

Thursday, 27 October 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion

9:30 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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I will finish on this point in order to let others in. I also would like to hear from the representatives of FLAC on this issue as it is one of the big core issues. I welcome what the Minister stated in terms of the High Court. The example FLAC gave of the number of consumers who appeal a decision in a particular year puts the ratio of appeals brought by consumers to appeals brought by financial providers at six to one. What are Mr. Deering's views, if any, on how the appeals issue could be addressed? Where decisions are taken by his office and consumers feel they were not right, they are basically being denied access to the judicial system because of the costs involved. This legislation attempts to make it more accessible by providing for access to the Circuit Court, subject to there being no unforeseen consequences. Does Mr. Deering have a view on how the circle could be squared? Will Mr. Deering provide us with details on appeals that have taken place over the past five or six years? Were they brought by the consumer or the financial institution and were they upheld or rejected by the court? Will he give us a sense of that for our report to the Minister?