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

I always acknowledge, and will do so again, that it was difficult and there were moments of high anxiety for those who saw the ownership of their loans or the mortgage on their homes or properties switching. I know that the impact on those affected has been difficult. For many, it has resulted in their mortgage payments and their interest rates being high.

At the same time, I must be honest in emphasising what I can and cannot do. What I can do is look at the changes that have been made in the consumer protection framework to ensure there are rights in place and levels of protection are available. I have outlined that to the Dáil. What I could not do was intervene to block decisions banks were making. Had I done so, it would have had other consequences for our banks and their ability to lend, contribute to our economy and, in turn, support others who wish to access mortgages and loans.

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