Seán Kyne (Galway West, Fine Gael)

On credit cards, we must also accept the banks continued to raise personal credit card limits by writing to advise that the credit card limit had been raised to €2,000, €3,000 or €4,000, and in the case of a friend of mine, to €8,000 on what was a relatively modest income. The banks have been supported and would not exist were it not for the support given by the Irish people. I welcome the Government's resolve to force the banks to co-operate, to sit down with borrowers in order to find a solution in compliance with the codes of consumer protection and conduct on mortgage arrears. At this stage several reports have been completed and the scale of the problem is widely known and visible in communities across the country. It is now time for urgent action to address the problem because our economic recovery depends on it.

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