Ms Gráinne McEvoy:

There is quite a lot in what the Deputy said. We have taken administrative sanction action against firms in the moneylending sector. That has included supervisory, as well as enforcement, action. Details of any enforcement actions that firms were subject to are available on our website. The Deputy can freely access the details of the specifics in that context.

My colleague, Mr. O'Brien, said that we have not seen a significant trend in complaints regarding the moneylending sector. If the Deputy has evidence of trends or complaints emerging as is always the case we would welcome that she provide that evidence to us and, within our role as a regulator of the sector, we will take that information in hand and examine it as to the validity or otherwise of the complaints and ensure that our expectations are being met.

I need to reinforce a point. Set out in the code are very specific criteria regarding complaints handling and how firms interact and engage with customers. It is an important protection to have. There are very strong expectations that we would set of firms regarding how they engage. If people have a legitimate grievance and complaint they should at all times be treated respectfully, sympathetically and the firm should make every endeavour to address that complaint to the fullest extent possible.

It is worth reiterating that the door does not close to consumers. If they feel a complaint has not been adequately addressed by the firm, they should use the supports that exist across the national wider framework for protecting consumers and use the office of the FSPO to investigate further if needs be.