Results 29,441-29,460 of 35,924 for speaker:Pearse Doherty

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

Pearse Doherty: The Minister of State should correct me if I am wrong on this. On Deputy Kieran O'Donnell's point, amendment No. 29 includes a change to the relevant period whereby information will stay in the system for five years, that applies to section 7(2)(b) which refers to debts on a loan, which means that it has not been paid back. The other paragraph, whereby it will terminate five years after the...

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

Pearse Doherty: On section 8(2), for the purposes of clarity, let us take the issues individually. Section 8(2)(a) includes a reference to section 7(2)(b), which reads, "any proposal or arrangement with respect to debts under the credit agreement or any guarantee or indemnity given in connection with the credit agreement". Specifically, we are talking about credit where there are debts outstanding.

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

Pearse Doherty: In that arrangement, when the proposal is withdrawn or the arrangement is terminated, the information stays in the system for five years afterwards. If I have a mortgage or loan and I still owe €10,000, for five years after the period by which I was supposed to pay back the loan, this information will stay on the register.

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

Pearse Doherty: Even if I owe €10,000 after the end of the five year period, it will disappear from the register.

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

Pearse Doherty: It will remain on the register until the credit arrangement is terminated. If I go into a bank, for example, AIB, to ask for a car loan of €20,000 over a period of three years and in that period of three years I only pay back €10,000, I will still owe the bank €10,000, but the credit arrangement will have terminated-----

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

Pearse Doherty: In the original section 8, one could have had an eight year loan and the information would only have stayed on the register for five years. By amending the legislation, the Minister of State is making certain that it will be in place for five years afterwards.

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

Pearse Doherty: Amendment No. 31, my amendment, is also trying to capture this in the case of family homes. This could be written with different distinctions. As I said, I am open to this. I raised this issue on Second Stage and I am raising it again on Committee Stage. I will pursue some amendment of this sort on Report Stage because it is really important that there be a distinction made for...

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

Pearse Doherty: But it will be taken away. While that information will be captured, it still makes credit information on the older position available to others, even though it is not of any benefit to them.

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

Pearse Doherty: Perhaps we will come back to this issue on Report Stage.

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

Pearse Doherty: That would be appreciated.

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

Pearse Doherty: I move amendment No. 30: In page 11, between lines 7 and 8, to insert the following subsection:"(2) The Bank may provide for an independent adjudication of disputes between a credit information subject and a credit information provider as to the content of the Register. The Bank may rely on such adjudication and amend the Register as recommended by the adjudicator.".This is a much welcomed...

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

Pearse Doherty: I am disappointed that the Minister is not open to accepting amendment No. 31. We all realise that the situation with individuals who have mortgages and simply cannot pay them back is not a small one. I am not talking about a number of individuals who borrowed recklessly. It is a large section of society who have found themselves with mortgages that are way beyond their means at this point...

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

Pearse Doherty: There are amendments connected with this coming up later.

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

Pearse Doherty: With regard to amendment No. 1 and section 1(f), regarding goods and services, is it tight enough so that the provision does not apply to a service from a financial institution? The essence of the point is captured but one cannot define going into a financial institution or another institution that provides credit and deeming it a service. One enters into a contract and one receives money...

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

Pearse Doherty: With regard to the regulated financial services provider, which is defined in the Central Bank Act 1942, does it not refer to being regulated within the State?

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

Pearse Doherty: With changes taking place in Europe, bank accounts will be made available in any part of Europe. Obviously, credit will become an issue and it will be easier to have an account in Spain or France. If I apply for a loan from a bank in Birmingham, can this information be accessed?

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

Pearse Doherty: This is an important point although it may not be widespread at the moment. It is likely that we will move in that direction, although it depends where people decide to go. It will become easier for people to access credit and to have deposit accounts in other EU member states. If this is about ensuring banks do not overlend, the problem is that if I have overstretched myself with the...

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

Pearse Doherty: Is there no way we can provide for this?

Written Answers — Department of Environment, Community and Local Government: Irish Water Funding (23 Oct 2013)

Pearse Doherty: 45. To ask the Minister for Environment, Community and Local Government in view of the fact that the installation of domestic water meters has commenced, the amount the full project will cost; and if he will provide a breakdown of current and capital spend for Irish Water. [44811/13]

Written Answers — Department of Environment, Community and Local Government: NAMA Social Housing Provision (23 Oct 2013)

Pearse Doherty: 67. To ask the Minister for Environment, Community and Local Government if he will provide an update on the delivery of the National Asset Management Agency social leasing initiatives, including, in tabular form, a breakdown under the headings of occupied, in the process of being occupied, vacant and in need of works, detailing the local authority area in which they are situated and the...