Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

This is a straightforward question on the sale of loan portfolios by banks and the National Asset Management Agency, NAMA, to vulture funds. On my question on Project Eagle which was overruled, for the record, the Department flagged the question for disqualification before the Ceann Comhairle ruled on it.

This question asks the Minister to instruct banks and NAMA not to sell loan books to vulture funds, which are unregulated entities. In addition, none of the intermediate companies or middle persons, as they could be described, which service loans on behalf of the vulture funds, has been authorised by the Central Bank. In recent years, customers have been thrown to the wolves while vulture funds have been reaping major tax benefits from the purchase of loan books.

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