Oireachtas Joint and Select Committees
Wednesday, 5 July 2023
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Defective Block Redress: Redress Focus Group for Banking and Insurance
Pearse Doherty (Donegal, Sinn Fein)
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Obviously, Ms McDade is not fortunate because all of this has been foisted on her due to the light-touch or no-touch regulations in place. She is very much a victim in this. However, in trying to deal with this, has mentioned that she is quite fortunate to be in a position to be able to get a loan, which is a high-interest loan. We all support the credit unions but it is a high-interest loan compared with a mortgage loan, which could have half that rate of interest.