Mary Coughlan (Donegal South West, Fianna Fail)

My Department is working with the Central Bank and other organisations in question on the transfer of the consumer role of the bank and it will be part of new legislation which I will introduce this year. This will include the transfer of resources from the Central Bank to my Department to allow the consumer affairs aspect of banking to be part of the new organisation that will be set up by the amalgamation of the Competition Authority and the National Consumer Agency.

The Minister will be seeking Government approval for the heads of the first Central Bank Bill and it will be introduced prior to Easter. There will also be a second Bill on financial regulatory matters. If possible it will consolidate all Central Bank legislation into a single statute in 2010.

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