Seán Sherlock (Cork East, Labour) | Oireachtas source

I thank Deputy Mulherin and I appreciate it. It would be remiss of me not to comment on the Government's very welcome initiative on microlending. Let us be honest, this is the business of credit unions. They have been restricted from operating in this area by the Registrar of Credit Union's prudential lending circular of February 2013. This circular and the way it is interpreted by regulatory inspectors will make it impossible for the new scheme to be a success.

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