Joan Burton (Dublin West, Labour)

In the context of legislation on and the regulation of banking, the scheme which was announced by the Irish Banking Federation yesterday is welcome but limited and I share the sentiments the Taoiseach expressed. However, the scheme needs to be put on a statutory footing. Does the Taoiseach propose to do that? There are many lenders who are not covered by the scheme, which is voluntary, such as most of the sub-prime firms which are those who are currently taking hundreds of people to court. They are not waiting until after the NAMA Bill is passed, rather they are doing it now and are charging people vast penalties and legal fees in the way they are approaching repossessions. Every Deputy in this House knows that.

We also have different money firms which are registered as financial institutions, some of which are effectively moneylenders. They are leaning on people for repayment by making constant phone calls, which is effectively harassment, and we have no regulation-----

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