Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I confirm that the Central Bank of Ireland is now engaged in this matter. It would not be appropriate for me to indicate what the status of this engagement is, nor can I do so, because the bank is leading that work as the independent Central Bank of Ireland. The Deputy will be aware of the legal protections in place for firms which have been affected by this issue. They include the Consumer Protection Act 2015 which was passed this year to deal precisely with protection gaps for firms the loans of which are sold by the original lender to an unregulated firm. As I indicated, the Central Bank is engaged in this matter and while I know that it is a serious issue, it would not be appropriate for me to answer on the bank's behalf about the work it is doing, nor can I do so.

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