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
Mairéad Farrell (Galway West, Sinn Fein)
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We will take a look at that. I have not seen it. We have seen that moneylenders can charge up to 187% APR.
There is talk of 288% when fees and charges are included. In the past few days there were reports in The Irish Timesregarding Provident Financial. The country's largest moneylender has announced it will shut its doorstep lending not just here but also in Britain. We have heard reports that there has been an increase here, as well as in Britain, in the number of complaints against moneylenders. We know the British regulator decided to conduct an investigation. Has anything similar been done here, such as the sanctioning of firms? Can that level of detail be provided? Have firms been sanctioned as a result of complaints?