Results 21,381-21,400 of 26,152 for speaker:Kieran O'Donnell

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: By way of information, service providers such as banks and financial institutions can access the register. Is it possible for an individual to access information?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: Is it possible for anyone else to have access to it?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: That is the borrower.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: If someone seeks to borrow more than €2,000 from an institution, the institution is obliged-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: An individual can get his or her own information and anyone else who wants the information must obtain authorisation from the individual.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: How detailed are the returns made by moneylenders to the Central Bank?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: I have spoken approximately ten words.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: This is all about information. If the Central Bank is aware of the volume and amounts of the loans provided by moneylenders, it should be possible to come up with a proper critique of the profile of the loans. Are moneylenders legally required to conduct a review of an applicant via the ICB?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: So this will be first time there will be a legal requirement

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: That is a step forward. I take the Minister of State's point that people might be driven towards unscrupulous moneylenders if the regulation is too onerous. Will he provide information before Report Stage in order that we can properly analyse what is happening?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: Do they report to the Central Bank?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: That is the key.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: What is the relevance of the figure of €2,000?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: Above €500 all moneylenders are obliged to send information to the registrar and the register will have the names of individual moneylenders. If a profile is developed of a moneylender giving large numbers of small loans, does the Central Bank have the wherewithal to follow up on him or her?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: Deputy Pearse Doherty is concerned that people are being given money at very high APRs which they have no capacity to repay. It is about protecting the consumer.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: Am I correct in saying that under section 14 of the Bill, the Central Bank is obliged to put a statement of not more than 200 words on the register? If a borrower had a difference of opinion with a lender in a certain case, would he or she be entitled to put forward in 200 words the equivalent of a tweet for beginners? It is like a Twitter page for borrowers.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: The Chairman is obviously not following me. Can the borrower put up whatever he or she wishes? Is he or she curtailed in what he can say under data protection provisions?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: If the borrower has a dispute with the lender, is he or she entitled to state the case in 200 words?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: If there is a dispute, it will obviously be on the register.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Reporting Bill 2012: Committee Stage (23 Oct 2013)

Kieran O'Donnell: My only worry and the only reason I am putting this forward is that when consumers go to an institution to look for credit and if a loan has been discharged in the normal way, there should be something built into the credit score, given that information will be left on the system for five years. That is reasonable.