Results 21,301-21,320 of 26,081 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: The thrust of the legislation is that people would have access to their credit rating on an annual basis. The Minister of State referred to regulations. When is it his intention that the legislation would come into operation?

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

Kieran O'Donnell: Are there commencement orders within the legislation?

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 really down to the regulations then?

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 comes down to the issue on credit scores. It would be important that within any report that is published in terms of the reduced weighting of credit scores over that time that as loans diminish the information would be incorporated in the report.

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

Kieran O'Donnell: In the context of the report it would be interesting to provide analysis on the profile of how people are repaying rather than just providing bloc 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: If an institution abuses the information, what are the penalties? The Minister referred to that earlier.

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 monetary amount of a class A fine?

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 point is that if the monetary limit is very small, it might not be as big a deterrent as one would like.

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

Kieran O'Donnell: It has not happened yet.

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?