Dáil debates

Thursday, 2 November 2006

10:30 am

Photo of Michael McDowellMichael McDowell (Dublin South East, Progressive Democrats)

The heads of the Money Advice and Budgeting Service Bill will come before Government in the near future for consideration. In that context, the Minister for Social and Family Affairs has indicated that he is seeking legal advice at present to inquire as to whether a change could be made to the Consumer Credit Act to limit interest payments payable under consumer lending. As the Deputy will appreciate, the Consumer Credit Act, in the passage of which the Deputy played some part, made no such provision for limitation of mathematical limits on interest rates charged but did provide other protections for consumers.

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