Oireachtas Joint and Select Committees

Wednesday, 12 May 2021

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

Consumer Credit (Amendment) Bill 2018 (Resumed): Engagement with Central Bank of Ireland

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

In the paper published by Ms Mary Faherty, Dr. Olive McCarthy and Dr. Noreen Byrne of UCC in December 2008, co-sponsored by the Central Bank, and entitled Interest Rate Restrictions on Credit for Low-income Borrowers, they recommended a policy which "prohibits usurious rates of interest". Usury is defined as making unethical or immoral monetary loans that unfairly enrich the lender. They recommend "a policy that prohibits usurious rates of interest in the interests of fairness to the most vulnerable in Irish society by the introduction of a restriction on interest rates and charges". Does Ms McEvoy agree with that policy?