Michael McGrath (Cork South Central, Fianna Fail)
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If a bank or a non-regulated loan owner such as a vulture fund is currently charging a customer 4% or 4.5% and it decides to double the charge to 8% or 9% and the customer is not in a position to switch because he or she may be in negative equity or in different financial circumstances and so on, what can the Central Bank do about that? If such a lender decides to charge, say, 10%, does the Central Bank have any powers to deal with that?