Results 31,381-31,400 of 34,778 for speaker:Seán Fleming
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Deputy Mathews can make his point of order when I am finished.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Who owns the 15% shareholding on behalf of the State? Is it the Minister for Finance or the NTMA?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: It would be remiss of me as an opening speaker not to mention the credit card interest rate increase. The public is annoyed with the increase in credit card fees coming up to the Christmas spend. Every member is dissatisfied with the announcement in recent days on the issue and is reflecting the public view. How many card holders does the bank have and how many people will be affected by...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Does it apply to her credit card? What category of credit card is affected by the decision? Does either witness know how many cards, or what percentage of them, will be affected?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: I was up early too.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Is Mr. Walsh saying that approximately half of card holders do not pay interest anyway if they clear their accounts?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Of a total of 500,000 cards, 91% are active, which is approximately 450,000 active credit cards. I expect 250,000 of those pay up each month. Therefore, approximately 50% of people do not pay interest at all, which leaves approximately 200,000 customers paying interest on their credit cards. Mr. Walsh said 4% have Clear cards and there are also those who hold Classic cards. What is the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Is that an annual rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Is it correct to say, therefore, that approximately 90% of the 200,000 people had an increase of 0.7% on their credit cards?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: It appears that 20,000 or 30,000 people will be affected by the larger increase in interest rates of 4% and 2%. Am I in the right region?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: How many such cards exist?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: I was worried that all of the 500,000 cards would be affected by the increase but it appears that approximately 5% of them will be affected by the major increase.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: That is the general picture.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Finally, as my time is up-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Yes. I said “finally”. The bank expects to be out of the bank guarantee system early in the new year. Of all the banks that have come before the committee, the State shareholding in Bank of Ireland has reduced from 30% to 15% and the bank hopes to reduce it further. Our definition of the success of the public interest directors is that they will work themselves out of a job...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: I welcome Mr. Walsh and Mr. Considine here today. I want to read one sentence to them from a parliamentary reply given by the Minister for Finance, Deputy Michael Noonan, on 9 October 2012 when he was asked about the role of public interest directors. His specific response on the Dáil record of 9 October was as follows: "Public interest directors do not have a formal reporting...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Perhaps there was an innuendo in the earlier question that there should have been a reporting relationship with the Minister, the Department of Finance or with the Central Bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: I am in possession and I will not be talked down by the Chairman.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: Let us be very clear - I am in possession, I am reading what the Minister said and I am referencing from what was said here this morning.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)
Seán Fleming: I will not have the Chairman interrupt my time allocation.