Results 10,981-11,000 of 11,861 for speaker:Brian Hayes

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

Brian Hayes: I move amendment No. 28: In page 9, subsection (1)(c), line 43, to delete "payable." and substitute the following:“payable;(d) any identifying number allocated to the credit application or credit agreement, or to the credit information subject, by the credit information provider; (e) details of any risk rating undertaken in relation to the credit applied for or agreed; (f) details of...

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

Brian Hayes: I move amendment No. 29: In page 10, subsection (2), lines 35 to 42, to delete paragraphs (a) and (b) and substitute the following:"(a) in the case of credit information to which section 7(2)(b) applies, until the end of the period of 5 years beginning with the day on which the proposal is withdrawn or the arrangement is terminated, (b) in the case of credit information to which section...

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

Brian Hayes: The credit score is a moving target. As it is restructured the score changes.

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

Brian Hayes: I understand the performance date applies for five years and as it comes to a conclusion it comes off the register. I understand the arrangement is 5-4-3-2-1.

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

Brian Hayes: The Deputy's concern is that the loan will remain on record for longer than five years.

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

Brian Hayes: The original section 8, before amendment No. 29 was proposed?

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

Brian Hayes: I understand the Deputy's point, but am not sure about its substance.

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

Brian Hayes: If the loans are paid off, they are paid off.

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

Brian Hayes: I would have thought that was good-quality information. The loan has been paid, the liability has been discharged and that information is provided.

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

Brian Hayes: For certainty and clarity. Is the Deputy satisfied?

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

Brian Hayes: The information is for the bank. We all want the quality of information throughout the system to be consistent. One of the reasons we are in the hole we are in is a lack of information. This arrangement would give us consistency across the entire scheme but in no way would it have any negative implication either for the person who has discharged liability for the original loan or for the...

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

Brian Hayes: I may be able to help the Deputy understand the bigger thing we are trying to achieve if I return to the point raised by Deputy Dooley. The credit score is the key issue here. As I stated, this is giving us the legal basis to produce the credit score. The Deputy made a valid point when he stated that the scheme of the credit score was not contained in the legislation. Obviously, it will...

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

Brian Hayes: As part of the primary legislation.

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

Brian Hayes: We will have a look at that issue.

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

Brian Hayes: My understanding is that the data remain on the register where the loan has not been discharged.

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

Brian Hayes: There is an outstanding liability, yes.

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

Brian Hayes: Yes.

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

Brian Hayes: It will remain on the register.

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

Brian Hayes: No.

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

Brian Hayes: Yes.