Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

The role of the banking sector, credit unions and other non-bank lenders in our economy and society is to provide credit in the form of mortgages to people who want to buy a home, credit to businesses, and loans to people who need them. However, they also need to be prudent. Banks and lenders need to know the money will be repaid or at least in almost all cases the money is repaid. Banks and other lenders need to be prudent in that regard because if they make loans that are not repaid, there are serious consequences for everyone else in society. We need to bear that in mind. No legislation is proposed.

See this speech in context