Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

As the Deputy will appreciate, it would be inappropriate for me, as Minister for Finance, to comment on actions taken by any company in relation to specific employees. While I cannot provide legal advice on possible courses of action available to individuals who consider that they have been unfairly dismissed, I would advise such individuals to seek appropriate legal advice.

I am aware that the Central Bank fined Provident Personal Credit Limited €105,000 and reprimanded it for breaches of legislation relating to certain moneylending practices late last year. In its announcement of the settlement, the Central Bank made it clear that, where licensed moneylenders fail to ensure full compliance with their legal obligations, they should expect vigorous investigation and follow up by the Central Bank, and for the Central Bank to exercise its sanctioning powers where appropriate. I have been informed by the Central Bank that it cannot discuss specific regulated financial service providers and I am not aware of the full details of the issue to which the Deputy refers. I understand that the Central Bank would welcome any information anyone wishes to provide regarding concerns they may have about firms it regulates. All such information received is reviewed and considered as part of the Central Bank's ongoing regulation of financial service providers.

Part 5 of the Central Bank (Supervision and Enforcement) Act 2013 provides protections for individuals who make "protected disclosures" to the Central Bank. These protections are separate from the protections which apply by virtue of the Protected Disclosures Act 2014. It is a matter for the Central Bank to ensure it uses its powers to ensure that individuals are protected and that it can continue to receive such disclosures. I am aware that the Deputy has raised the matter directly with the Central Bank and I trust that he will be satisfied that the bank ensures that the provisions of the Central Bank (Supervision and Enforcement) Act 2013 are used in a manner which ensures that employees are not penalised for reporting wrongdoing. The Protected Disclosures Act 2014 is a matter for my colleague the Minister for Public Expenditure and Reform, Deputy Howlin.

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