Mary Hanafin (Dún Laoghaire, Fianna Fail)

I do not question the Deputy's opinions on what has happened. She is right to mention that people were advised to take out 100% mortgages, for example. The Financial Regulator obliges financial institutions to give certain advice. There has been an increase in the number of debt collection groups, many of which have written to me to offer assistance with our work. I am aware of a serious and unfortunate case in which a number of people received letters, purporting to come from MABS, claiming they could receive support and help. It was frightening and disconcerting for people. Any organisation engaged in financial business is required to adhere to certain guidelines. I will investigate whether the Department of Finance or the Financial Regulator need to do anything else to regulate the companies mentioned by Deputy Enright.

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