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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: That was my question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: I am interested in such cases. In the course of a case in which bank documents may be challenged or new information given or an error in documentation or incomplete documentation discovered, the bank remains open to talking to the customer. It does not to refuse to so do once proceedings reach court.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Although I do not wish to go into too much detail, I recently read of a court case in which a customer of the bank claimed the bank owed him or her money. If that money had been paid or acknowledged as owing to the customer, it might have resulted in a different outcome to the case. That is why I asked about commercial cases before the courts. I might come back to the representatives in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Mr. Verbraken stated that the bank uses Cabot.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Does it use Cabot for debt collection?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: It is a debt collector.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: I misunderstood the question that was asked and was unsure whether it was a vulture fund or a debt collection agency. I thought I got it wrong but it is a debt collection agency as I thought.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: This point may have been clarified in my absence: it was reported that there is a substantial sum of non-performing loans in the bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Are they worth €8 billion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Is that a big drag on the performance of the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: Those debtors are paying something.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: KBC Bank (10 Jul 2018)

John McGuinness: That reminds me that the business in the commercial case to which I referred was described as a zero payer but claimed that the bank owed it €1 million. I will bring that to Mr. Verbraeken's attention after the meeting. I thank the representatives for their attendance.

Written Answers — Department of Health: Hospital Services (12 Jul 2018)

John McGuinness: 438. To ask the Minister for Health the reason the consultant paediatrician, senior dietitian and diabetes nurse at St. Luke’s Hospital, Kilkenny, issued a letter to the parents of those attending the services outlining restrictions to the services and stating that there is a severe lack of resources available; the reason this situation arose; the steps he plans to take to ensure that...

Written Answers — Department of Employment Affairs and Social Protection: State Pension (Non-Contributory) Applications (12 Jul 2018)

John McGuinness: 698. To ask the Minister for Employment Affairs and Social Protection the status of an application by a person (details supplied) for a State pension (non contributory); and if the appeal will be expedited. [31981/18]

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2018: Committee Stage (12 Jul 2018)

John McGuinness: I remind members to turn off their mobile phones and to remove them from their desks because they cause sound problems with the microphones. We will consider the Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2018 in the name of Deputy Michael McGrath. We will go straight to section 1. I presume that we will adjourn at 1 p.m.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2018: Committee Stage (12 Jul 2018)

John McGuinness: On a point of clarification, the Minister of State read out a note on the differences between them. Can we have a copy of that note now?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2018: Committee Stage (12 Jul 2018)

John McGuinness: It is important that we have a copy of the note. What will be the difference between what the Minister of State read out and how that fits into the Title of this Bill, which is Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2018? He has commented on the difference between the Central Bank and the Department. If we are being asked to deal with the Bill this...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2018: Committee Stage (12 Jul 2018)

John McGuinness: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2018: Committee Stage (12 Jul 2018)

John McGuinness: I have a question for Deputy McGrath on his amendment. Is he suggesting not to regulate the credit servicing firms? I am confused. They are regulated, is that correct?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2018: Committee Stage (12 Jul 2018)

John McGuinness: Is Deputy Michael McGrath saying that regulation would move from them to the loan owners?

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