Michael McGrath (Cork South Central, Fianna Fail)

Is any legislation planned to deal with a situation whereby there is a difference of over 2% in the variable interest rate being charged on mortgages by State-owned banks? The Taoiseach asked the Financial Regulator whether he wanted additional powers to intervene in this area, and the answer was "No". Will the Government take the initiative to bring forward legislation to address a clear anomaly, which is affecting mortgage holders who are already in serious distress?

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