Results 11,281-11,300 of 26,053 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Discussion (20 Oct 2016)

Kieran O'Donnell: Well done. The Central Bank can then move in. If the average is kept high due to a lack of competition in the market, there could be an unintended consequence. If there were competition in the market, it would drive down the average rate and, even at a rate that is one third higher than average, the individual would be getting a better rate than if there were no competition in the market.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Discussion (20 Oct 2016)

Kieran O'Donnell: What if the variable rate were reduced?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Discussion (20 Oct 2016)

Kieran O'Donnell: Mr. Burgess's point is that if it is a trade off between allowing new competitors to come in or dealing with banks ripping off mortgage holders, the market is so small that we will not get a flood of competitors coming in. When it is a fine balance, Mr. Burgess feels it is a better decision to ensure the existing banks are charging appropriate rates.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Discussion (20 Oct 2016)

Kieran O'Donnell: Mr. Burgess is saying the Irish market is unattractive to competitors coming in.

Seanad: Order of Business (25 Oct 2016)

Kieran O'Donnell: Absolutely.

Seanad: Order of Business (25 Oct 2016)

Kieran O'Donnell: That is false modesty. The Senator has the complete support of the Leas-Chathaoirleach.

Seanad: Order of Business (25 Oct 2016)

Kieran O'Donnell: I want to raise two issues. Senator O'Sullivan spoke about Kerry. If we could get the Wild Atlantic Way extended to Limerick, I have no doubt we would be on a level playing field with Kerry. The issue I want to raise relates to Irish Rail. As a frequent user of Irish Rail I welcome the fact that there will be a public consultation on the service. I have raised this issue before. If we...

Seanad: Agricultural Prices and Decision by UK to Leave EU: Statements (25 Oct 2016)

Kieran O'Donnell: I welcome the Minister to the House and commend him on his work to date. He will undoubtedly leave a legacy, but we will not give him a legacy just yet. I represent Limerick and Clare farmers. The greatest issue is that of sterling. Senator Lombard touched on the expansion in quotas and so forth. Now on top of this is uncertainty over sterling. The euro could shortly have parity with...

Seanad: Order of Business (26 Oct 2016)

Kieran O'Donnell: I want to speak on two matters. First, I want to speak on the issue of-----

Seanad: Order of Business (26 Oct 2016)

Kieran O'Donnell: Are there no concessions?

Seanad: Order of Business (26 Oct 2016)

Kieran O'Donnell: I want to raise a matter of major importance. We have had eight deaths on our roads in the past four days. In the year to date, there have been 157 road deaths while there were 162 road fatalities for the entire year in 2015. We are now only five off the number of people who were killed on the roads last year; 31 more people have been killed on our roads than at this time last year. There...

Seanad: Order of Business (26 Oct 2016)

Kieran O'Donnell: This is very important. I ask that the Minister, Deputy Harris, and the HSE accommodate people travelling from Limerick and rural Ireland in terms of gaining access to the hospital. People will arrive at the Red Cow roundabout on time but it will take more time to get to the hospital and I ask that they be looked after. I am told the reason the hospital is on the site of St. James's...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Kieran O'Donnell: I want to touch on a few of the practicalities. On arrears, the biggest issue concerned endowment policies. It is, effectively, a legacy issue at this stage. Has the Financial Services Ombudsman conducted many investigations into such policies?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Kieran O'Donnell: Does the fact that people have continued to make contributions not make it fall within the ambit of the six year rule?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Kieran O'Donnell: What recourse does a person have if he or she has an issue with an endowment policy, apart from through the courts?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Kieran O'Donnell: How would they be covered? If a case involving an endowment power was referred to the Office of the Financial Services Ombudsman, how would it be interpreted?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Kieran O'Donnell: My second point is-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Kieran O'Donnell: From personal observation, I was in practice as an accountant when endowment mortgages were very much of the time. I remember them as a product of the late 1980s to the early or mid-1990s. Endowment mortgages were sold to people on the basis that they could have it both ways. They could pay their mortgage but also receive a kickback when the endowment mortgage matured and at the end have a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Kieran O'Donnell: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Kieran O'Donnell: One has to be careful. It could be alleged that a couple or single person who sought a mortgage from a financial institution but were on the edge of being approved and were told by an institution that it would be a good option to take the endowment mortgage route. I would dare to call that instructive encouragement because that is what happened in reality.