Niall Collins (Limerick, Fianna Fail) | Oireachtas source

No problem. We tabled this amendment on Committee Stage also and we discussed it in some detail but I want to reiterate our position on it for the record. I note the Minister is not accepting the amendment. That does not come as a surprise. We discussed this on many occasions in regard to the personal insolvency legislation. The thrust of legislation is all the time recalibrating the balance of power away from the borrower into the hands of the lender, but unfortunately we have seen over the years, and day in, day out in our constituency offices, that the banks adopt quite a high-handed and draconian approach to dealing with people in distress. That is the issue we raised during the debate on the personal insolvency legislation. That is the reason we sought to have an independent appeals process. That is why we pointed out the issue in regard to what we have described as the bankers' veto. We had it again this week in regard to the new code of conduct launched by the banks, with Government support, whereby the protection being afforded to borrowers in distress and in arrears has been watered down and people will now be subjected to more vigorous pursuit by the banks.

Taking all that in the round and remembering also that the bona fides of the banks have to be called into question, have they acted reasonably? The answer is "No". Will they act reasonably from now on with the passage of this legislation? I believe the answer is "No". The Minister mentioned in rejecting this amendment that it would promote delinquent behaviour. The banks can act in a delinquent fashion also.

The effect of our motion was to try to stem the erosion of protection which the borrowers have enjoyed to a certain degree but, unfortunately, the Minister has already said he will not accept that. I note that but I wanted to take the opportunity to speak to the amendment.

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