Results 20,781-20,800 of 26,228 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: They are using cash.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: Does that mean they use cash?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: There is no cost of funding in that case.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: What alternative costs?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: If using them for alternative purposes, what could be got on deposit in a bank now?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: What is the typical rate of interest paid by a financial institution for money on deposit?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: Perhaps 2% or 3%. These people are charging 287% APR. I do not need a calculator to tell me there is something wrong in that respect. To get to the nuts and bolts, did the bank consider the cost of funding for the moneylenders?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: What is the level of bad debts relative to ordinary banks?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: I am a bit perplexed. How could a moneylender charge nearly 300% in interest on a loan? Mr. Sheridan has indicated that, in effect, all loans are repaid and many moneylenders are giving out cash reserves rather than money which they have borrowed. How can some of these not make a profit? If a model is to be built to lend money to people who cannot access it elsewhere by looking to make a...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: In the limited time I have, I am asking a very direct question. Is this model flawed? How can it be justified that these moneylenders - which for all intents and purposes are now the poor man's bank - charge up to 300% APR, when typical APR for a loan is between 7% and 10%? Even credit cards charge approximately 19%. The Central Bank is the custodian of this area so how is this allowed to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: Yes.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: The problem with the model that is-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: This is an important point. The Central Bank has admitted there are effectively no bad debts in the industry. People are being put in a cycle of debt upon debt from which they cannot escape. Is the Central Bank standing over the process?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: Will Mr. Sheridan reply?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: Why is it not being changed?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Kieran O'Donnell: I thank Mr. Sheridan for his presentation. I will cut to the chase. The figures provided are disturbing. Mr. Sheridan stated: There has been some public discussion in this regard about introducing an industry-wide cap on the rates moneylenders can charge. Lower interest rate ceilings could be ineffective and counterproductive in this regard and may result in excluding low income...
- Public Accounts Committee: 2012 Report of the Comptroller and Auditor General
Chapter 7 - Management of Fixed Charge Notice System (23 Jan 2014) Kieran O'Donnell: Is the Commissioner at liberty to tell us the outcome of his deliberations on those complaints that he reported back to the confidential ---
- Public Accounts Committee: 2012 Report of the Comptroller and Auditor General
Chapter 7 - Management of Fixed Charge Notice System (23 Jan 2014) Kieran O'Donnell: Did the Commissioner know their identity on 4 April?
- Public Accounts Committee: 2012 Report of the Comptroller and Auditor General
Chapter 7 - Management of Fixed Charge Notice System (23 Jan 2014) Kieran O'Donnell: Were the complaints they submitted upheld and was any action taken on foot of them?
- Public Accounts Committee: 2012 Report of the Comptroller and Auditor General
Chapter 7 - Management of Fixed Charge Notice System (23 Jan 2014) Kieran O'Donnell: Was it a serious matter?