Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

What will be done about the situation? We have endeavoured to be constructive. Deputy Michael McGrath has produced well-researched legislation. A legislative response is required. At a very minimum, the 46,000 whose loans have been bought up by vulture funds are extraordinarily vulnerable to arbitrary hikes in the rates. Does the Taoiseach accept that legislation is required? I do not know by what criteria the Taoiseach would judge the Minister’s initiative as being a success or what timeframe he is now setting out. He said the officials would follow up on what the banks have undertaken to do. How long will the process last? Does the Taoiseach not accept that legislation is required to bring fairness between existing customers and new customers, for example?

All the Taoiseach announced were marketing and promotional approaches by the banks. They do not deal with the core issue of how existing customers are being screwed and ripped off. This is the key point and it is unacceptable.

See this speech in context